fallout by IMF
So the next Article IV consultation, I think will happen early next year.
Question: But staff reports were published earlier. And when they were stopped from
time to time that was a regression.
Deputy Governor: Article IV some of the reports were not published in the past.
Question: And the mission staff reports were published.
Deputy Governor: I think some of those are published with a time lag. As you can see
last year three reports were published at the same time. Previous time. From time to
time when we have consultations processes we discuss the report with each other and
then come to a consensus, then only we give our consent to publish. So that process
is going on.
Question: So when
Deputy Governor: What happens usually when we give the consent we give them
consent to release all the previous ones they have submitted to the board.
So what we expect next time, the annual report is the key one that would be submitted
to the board next time. Once we see that and most probably we will look at the past
reports and those will be released at the same time.
Questions: So this decision not to publish the staff report is a conscious decision?
Deputy Governor: No, the first thing is they have to submit it to the board. That has
not happened yet. They will be going to the board in November. Once it goes to the
board.
Question: I don't mean the new one. The previous mission
Deputy Governor: The previous one we are still working on it. They have not been
given consent. Also there is no such request from the board also. There is no kind
requirement for all these reports to be published.
But the Fund says only the Article IV consultation report that for members to be
published. All others are interim reports. And you know the major report which will
include all other observations will be in the Article IV report. That is why the annual
report is mainly published.
Question: Forgive me for arguing. In that case, there no reason to even to publish
that on that basis.
Deputy Governor: Certainly, in the case of all the countries, the authorities have to
give consent. It has to have we have to have discussions with the staff. And we have
to have agreement with the language they publish. If there is agreement, consent on
the language then only both parties will agree and then publish. So that process is
going on. Once we come to a consensus.
Sometimes it has happened in one year, two year, three years. Sometimes it happens
in three months. So I would say, it is not that we do not publish it. It will take some time
for us to come to a consensus and we will publish it.
Question: So where does good governance and transparency come in?
Deputy Governor: This is all based on the rules and regulations with the IMF and
also with the authorities. Nothing is violated. It is all within the rule of the Fund and its
member countries. The Fund member counties have the kind of authority to discuss