IMF governance - CSO meeting with the IMF managing director Istanbul, 1 October 2009
Minutes||8 October 2009|
Dominique Strauss-Kahn, IMF managing director
Dominique Strauss-Kahn - recognises that previous moves only go so far, need further progress, moving in the right direction, believes CSO input is important
Peter Chowla - we should have a real double majority based on countries not chairs and for all decisions; the new quota formula is not good enough, it still needs correction, including use of democratic elements; quota should not be rigidly linked to finance access; we need to do something about US vetoDSK response
Caroline Pearce - need to rebalance the board away from Europe, we want all elected and no appointed constituencies, and want accountability of EDs to constituencies and stakeholders.
Chilufya Chilesha - the IMF fails to be accountable on its policies to citizens, we need external independent assessment, humanisation of the IMF, and understanding of the development context
Peter Bakvis, ITUC - the IMF delaas only with finance ministries and this stops accountability; there needs to be greater relations with other ministeries, parliaments, etc; we need operational policies on engaging stakehodlers and transparency in negotiations
Nancy Alexander, Heinrich Boell - we need hard numbers about the fiscal felexibility in countries, calling for labour flexibility in programmes is out of order; the IMF doesn't just 'fix' problems, the IMF helped create the problems
Max Lawson, Oxfam GB - what is your thinking on the new study to be done by the IMF on the Tobin tax?
Soren Ambrose, ActionAid International - you are talking about doing a double majority based on chairs rather than countries, it should be on countries, meaning the Africa ED will have the highest number of votes
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Published: 8 October 2009 , last edited: 9 October 2009
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