UK parliament scrutinises IMF
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In January the UK Treasury released its second Annual Report to Parliament on the Activities of the IMF. Bretton Woods Project welcomed the report, which summarizes the UK‘s priorities and major policy discussions in the IMF, but suggested several areas for improvement. These include:
- providing references to other Treasury policy and research papers;
- clearly state the UK‘s position on all key Board decisions;
- outline the UK‘s priorities for the next year and a time-line for advancing them;
- summarize the views of stakeholders outside the IMF decision making process and point to sources where alternative analysis and information can be obtained;
- summarize what input has been sought from sources outside the Treasury, eg, Southern governments, academics, NGOs and the private sector, into UK policy formulation processes.
- demonstrate how the Treasury is collaborating with other government departments, such as DFID, to ensure consistency;
The Treasury Committee later heard evidence from Stephen Pickford, UK WB and IMF Executive Director, on the IMF‘s work and future agenda in January. The discussions and submissions to the committee from the Bretton Woods Project and other NGOs made will soon be available on the web.