For the last 18 months, Jorge Baca Campodónico has been holed up in the five-star Sheraton hotel in Buenos Aires, while his lawyers fight his extradition to Peru where he faces various charges of high-level corruption. Campodónico was employed as a technical adviser by the IMF at the time of his arrest; he subsequently testified that the IMF knew of the charges against him when he was hired. Peruvian authorities expressed “strong discontent” with the IMF’s legal and financial support for his defence. Argentine daily Clarín has reported that the Fund continues to pay his hotel bill.
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This briefing shows that multilateral governance is at risk if long-overdue IMF quota and board reforms are not ratified.
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