The IMF, the world’s monitor of the financial industry, has recognized the need to assess Offshore Financial Centres (OFCs) more closely. The main reason is that, according to the IMF, OFCs make up a significant part of global financial flows and because they have ties with other financial centres they can be very influential in many countries’ economies.

In July 2000, the IMF set up a plan to incorporate OFCs in the global assessments of the financial sector. The aim is to strengthen the financial supervision of OFCs and thus to ensure that OFCs comply with international rules and agreements.

The assessments and reports on the OFCs can be read at the IMF website.

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