IFI governance


Treasury Committee supports UK transparency

15 April 2000

The UK should be more transparent about the decisions it takes at the IMF recommends the UK‘s Treasury Committee in its February 2000 report on the IMF.

The Committee heard evidence from the Chancellor, Gordon Brown, the UK‘s Executive Director, NGOs and academics. It recommended that:

1) the decision making process at the IMF should be reformed and the UK should publish its voting record;

2) following each IMF Annual Meeting the Treasury should publish an annual report on its activities at the IMF;

3) the choice of IMF head should be more transparent and democratic;

4) the UK should take a stronger lead in pushing for rules to involve the private sector in resolving financial crises;

5) the IMF should pull back from debt relief programmes and focus on its original mandate;

6) the IMF should not over-step its expertise in the transition countries;

and there should be greater transparency about conditionality and a limited role in governance issues.

The full report is available from: www.parliament.the-stationery-office.co.uk. For Bretton Woods Project submissions Email awood@brettonwoodsproject.org.