IFI governance

News

First class flights more important than voice at IMF

2 July 2007

In the decision on IMF governance reform taken at the Singapore annual meetings, a commitment was made to increase the number of advisor and senior advisor positions for offices of executive directors (ED) from large, mainly African, constituencies. However, in April the board’s committee on administrative affairs, chaired by the Belgian ED, opposed giving more than one advisor-level post to the African groups, citing the Fund’s budget crunch. A full board meeting in May was unable to reach further compromise on the issue, with EDs refusing to reduce their offices’ other expenses, such as their first class flights allowance, so that Africans could have more say in decision-making.