As part of chairing the G8, the US government initiated a review of the international financial institutions. The review is shrouded in secrecy but is said to include improving IMF assessments of economic policies and potential crisis risks, and refocusing the IMF and World Bank on their core mandates. G8 finance ministers said in May “the institutions must reform further on the basis of principles of accountability, good governance, transparency, clarity of objectives and effective working with markets.” While examining the IFIs’ mandates is always welcome, the G8 is not the approapriate forum to be doing it.
Review maintains inadequate and inconsistent approach to economic and gender inequality, as well as climate change.
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The Bretton Woods Project is a UK-based NGO that challenges the World Bank and IMF and promotes alternative approaches. We serve as an information provider, watchdog, networker and advocate. Our flagship publications are the Bretton Woods Observer, a quarterly critical review of developments at the World Bank and IMF, the Dispatch, a biannual analysis of the World Bank and IMF Spring and Annual Meetings, and the NewsLens, a bi-weekly roundup of key news and critical viewpoints published about the World Bank and IMF.
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