By Barry Carin, Angela Wood
Brings jointly top specialists from world wide to extra the talk at the a variety of dimesions of responsibility of IMF to its numerous sharholders and stakeholders. Having absolutely explored how the idea of responsibility may be pragmatically utilized it then assessments numerous substitute appriaches and makes a few innovations.
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Additional info for Accountability Of The International Monetary Fund (Voices in Development Management)
The IMF has hosted several major international conferences on the PRSP and sought to actively link the PRSP process with the objectives of the Millennium Development Goals. 23 A key impetus to the IMF's involvement in low-income countries occurred in December 1999, when the Executive Boards of the IMF and the World Bank launched the PRSP initiative; and in the same month, the IMF Executive Board transformed the former Extended Structural Adjustment Facility (ESAF) into the PRGF. The two decisions also inter-linked the IMF's role in the HIPC initiative with both the PRSP and the PRGF initiatives.
Since the overall aggregate increase would be likely to be relatively small, perhaps an adjustment of between three to four per cent, spread among a large segment of the membership and possibly among all non-SSA members, the adverse implications for each non-SSA member would be negligible. In addition, the current relative ranking of voting share among the non-SSA members could be maintained, by an agreement to this effect by all members. The net effect of this option would be to preserve the relative voting ranking among all non-SSA members, while increasing SSA's share in the total vote.
Option 2: Establish a committee of the Board of Governors To initiate a broad shareholder dialogue, the Board of Governors could establish a committee representative of the membership, to examine the issue and to report back to the Board of Governors. The advantage of this approach would be that the discussion would be mandated at the highest level and would avoid a potentially disruptive process from emerging in the Executive Board. Option 3: External review An external agency could initiate a process of dialogue among a broad cross-section of the membership, to identify the key aspects of the challenge of developing country representation, to seek consensus and to identify areas in which progress may be able to be made; and to make recommendations to advance the issue.
Accountability Of The International Monetary Fund (Voices in Development Management) by Barry Carin, Angela Wood