In June, Thomas Bernes was appointed as the new head of the Independent Evaluation Office (IEO) of the IMF. Bernes previously served as the secretary of the joint IMF-WB development committee, and IMF executive director for Canada from 1996 – 2001.

The IEO confirmed that its evaluations for fiscal year 2006 will include: IMF advice on exchange rate policy, IMF role in selected African countries (aid predictability and debt sustainability), and the effectiveness of bilateral surveillance.