The IMF has developed codes of good practices to make policies of
central banks and financial agencies, including ministries of
finance, "transparent", that is, provided to the public in a clear,
informative and timely manner.
In the Reports on the Observance of Standards and Codes, the IMF
(or the World Bank) summarize the extent to which countries observe
such codes of good practice and other internationally recognized
standards and codes.
The IMF has recognized 12 areas and associated standards as
useful for the operational work of the IMF and the World Bank:
accounting; auditing; anti-money laundering and countering the
financing of terrorism (AML/CFT); banking supervision; corporate
governance; data dissemination; fiscal transparency; insolvency and
creditor rights; insurance supervision; monetary and financial
policy transparency; payments systems; and securities regulation. AML/CFT was added in November 2002.
ROSCs in banking and financial sector areas are usually carried out
in the context of FSAP.
prepared and published at the request of the member country. They
are used to help sharpen the institutions' policy discussions with
national authorities, and in the private sector (including by rating
agencies) for risk assessment. Short updates are produced regularly
and new reports are produced every few years.
IMF: ROSC REPORTS FOR
ROSC Data Module (incl. also the
response by the authorities, and Detailed Assessments Using the
Data Quality Assessment Framework):
March 10, 2006 - Country Report No. 06/104
- Monetary and Financial
(as part of the Financial
System Stability Assessment: February 23, 2005 - Country Report No.
- Banking Supervision
(as part of the Financial System Stability
Assessment:February 23, 2005 - Country Report No.
- Fiscal Transparency
(December 20, 2004 - Country Report No.
WORLD BANK: ROSC REPORTS