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.
EarthRights International examines how the Jam v. IFC case has helped to shift the landscape of accountability for international financial institutions by successfully challenging their claim to “absolute” immunity in US courts, potentially opening IFC up to further legal challenges in future.
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