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UK Treasury to focus on IMF surveillance

2 July 2007

In its annual report to parliament The UK and the IMF, the UK Treasury’s most ambitious goal for 2007 is a revision of the IMF’s surveillance framework. While also emphasising governance reform of the IMF, the report does not prioritise creating an open and merit-based process for selecting the managing director, overhauling the transparency policy, or grappling with the issue of what role the Fund should be playing in low-income countries. The 2006 annual report to UK parliament on relations with the World Bank, which is produced separately by the Department for International Development, has not yet been released .