Mr Montek Ahluwalia, a member of the Economic Advisory Council to the Prime Minister of India, has been appointed Director of the IMF‘s new Independent Evaluation Office (EVO). He will take up his post in August. He will be responsible for establishing the rules and mechanisms by which the EVO will function. NGOs have urged him to consult widely outside the IMF, particularly with civil society groups in countries implementing IMF programmes. NGOs have called for mechanisms to involve stakeholders in setting the Office’s agenda, identifying consultants, and commenting on draft and completed reviews.
In the news
Last year BRICS' leaders agreed to launch a BRICS development bank. Whether this is considered positive depends in part what questions are being asked. Sameer Dossani of ActionAid International highlights the flaws in the World Bank and IMF, analyses whether a BRICS Bank could be different from these institutions and proposes what it should do and what it should look like.
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).