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This Work Program (WP) translates the strategic directions and policy priorities laid out in the Spring 2018 Global Policy Agenda (GPA) Update and the International Monetary and Financial Committee (IMFC) Communiqué into an Executive Board agenda for the next twelve months.

Directors of corporations. --- Management --- Fiscal policy. --- Methodology. --- Capital movements --- Debt sustainability analysis --- Debts, External --- Diffusion Processes --- Digitalization --- Exports and Imports --- Industries: Information Technololgy --- Information technology industries --- Information technology --- Institutional View on capital flows --- International economics --- International Investment --- International Lending and Debt Problems --- Long-term Capital Movements --- Technological Change: Choices and Consequences

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Digitalization encompasses a wide range of new applications of information technology in business models and products that are transforming the economy and social interactions. Digitalization is both an enabler and a disruptor of businesses. The lack of a generally agreed definition of the “digital economy” or “digital sector” and the lack of industry and product classification for Internet platforms and associated services are hurdles to measuring the digital economy. This paper distinguishes between the “digital sector” and the increasingly digitalized modern economy, often called the “digital economy,” and focuses on the measurement of the digital sector. The digital sector covers the core activities of digitalization, ICT goods and services, online platforms, and platform-enabled activities such as the sharing economy.

Electronic commerce --- Finance --- Mathematical models. --- Statistics. --- Business innovation --- Choice of Technology --- Cooperation --- Crowdfunding --- Deflation --- Diffusion Processes --- Digital economy --- Digital or internet economics --- Digitalization --- Economic sectors --- General Aggregative Models: General --- Government and the Monetary System --- Industrialization --- Industries: Information Technololgy --- Inflation --- Information technology industries --- Information technology --- Macroeconomics --- Manufacturing and Service Industries --- Monetary Systems --- National accounts --- National income --- Payment Systems --- Price indexes --- Price Level --- Prices --- Regimes --- Sharing economy --- Standards --- Technological Change: Choices and Consequences --- Technology --- United States

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Capacity development (CD) is one of the Fund’s three core activities and has grown in importance in recent years. It supports member countries’ efforts to build the institutions and capacity necessary to formulate and implement sound economic policies, thereby complementing the Fund’s surveillance and lending mandates. Member countries, partners, and external commentators give the Fund high marks for the quality of its CD. At the same time, efforts need to continue to strengthen Fund CD to serve members’ current and evolving needs. The 2018 CD Strategy Review examines progress under the Fund’s 2013 CD Strategy and proposes a CD strategy for the next five years. It notes substantial progress in addressing the 2013 recommendations, which included strengthening the CD governance structure, enhancing the prioritization processes, clarifying the funding model, strengthening monitoring and evaluation, promoting greater integration of TA and training, exploiting new technologies for delivery, and leveraging CD as outreach. However, background work for this review also pointed to the need to strengthen the CD framework further. The review builds upon the existing CD strategy, focusing on two mutually reinforcing objectives. First, the impact of Fund CD needs to be increased by further strengthening integration with the Fund’s policy advice and lending operations, while continuing to make progress in framing CD through comprehensive strategies tailored to each member’s needs, capacity, and conditions, focusing on implementation and outcomes. Stronger coordination between CD and the Fund’s other core functions will better connect CD with countries’ risks and vulnerabilities and ensure surveillance and lending integrate lessons from CD more effectively. Second, the efficiency of CD needs to be increased by improving CD processes and systems. This will enhance transparency and strengthen the basis for strategic decision making. Five specific areas of recommendations support the strategy. Likewise, they mitigate institutional risks stemming from the Fund’s CD activities. They include clearer roles and responsibilities for key internal and external stakeholders in the CD process; continued strengthening of prioritization and monitoring; better tailoring and modernization of CD delivery with a focus on implementation of TA recommendations; greater internal consultation and sharing of CD information; and further progress in external coordination, communication, and dissemination of information (Annex I).

Organizational effectiveness --- Strategic planning. --- Evaluation. --- International Monetary Fund. --- Budget planning and preparation --- Budget Systems --- Budget --- Budgeting & financial management --- Budgeting --- Capacity utilization --- Communications in revenue administration --- Development economics & emerging economies --- Development strategy --- Development --- Diffusion Processes --- Economic Development --- Economic development --- Income economics --- Industrial capacity --- Industries: Information Technololgy --- Information technology industries --- Labor economics --- Labor Economics: General --- Labor --- Labour --- Macroeconomics --- Macroeconomics: Production --- National Budget --- Planning Models --- Planning Policy --- Production and Operations Management --- Production --- Public finance & taxation --- Public Finance --- Public financial management (PFM) --- Revenue administration transparency and accountability --- Revenue administration --- Revenue --- Taxation, Subsidies, and Revenue: General --- Technological Change: Choices and Consequences --- Technology --- Liberia