Safeguards Assessments - 2014 Update

Author: International Monetary Fund

The safeguards policy aims to mitigate the potential risks of misuse of resources, including Fund resources, and misreporting of program monetary data.

Volume/Issue: Volume 2014 Issue 026

Publication date: May 2014

ISBN: 9781498342780

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Public Finance , Business and Economics - Statistics , PP , central bank , assessment , financial statement , oversight mechanism , financing , self-assessment tool , peer central bank , central bank official , audit issue , audit committee oversight , External audit , Auditing , Monetary statistics , Central bank auditing , Internal audit , Middle East and Central Asia

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Summary

The safeguards policy aims to mitigate the potential risks of misuse of resources, including Fund resources, and misreporting of program monetary data. The policy, introduced in 2000, is an integral part of the Fund’s financing policies and complements other safeguards, such as program design, conditionality, and access limits. Safeguards assessments of central banks of the borrowing member are required for almost all forms of Fund financing, and are followed by a period of monitoring for as long as Fund credit is outstanding.