The Fund Executive Board should ensure that useful recommendations from these evaluations are implemented promptly, and I refer to the recommendations made by external evaluators of ESAF which still need some follow-up. I am also tempted to suggest that the HIPC Initiative has proved a great challenge for the international community as a whole and we stand to benefit from an external evaluation of this facility. I would think such an exercise would receive widespread support and the relatively short experience with the few cases that have benefited so far can help us shape the future course of this facility. Finally on this matter, in any external evaluation, we would encourage maximum participation by the intelligentsia from those countries impacted by the policies under review and I urge the Fund Executive Board to keep this in mind. The enforcement of international standards and codes of good practices is very useful, particularly in an increasingly globalizing environment.
Work is at an advanced stage at the regional level.
As we have learnt from the European integration, such initiatives need time, resources and management expertise. Africa should be assisted to integrate itself as well as into the global system. In particular, the IMF should step up its technical assistance to regional groupings. The formulation and enforcement of standards should take into account regional initiatives. For example, the SADC has formulated its timetable for the liberalization of trade, exchange systems and capital movement, financial integration and institutional reform.