The IMF managing director Dominique Strauss-Kahn has appointed yet another “committee of eminent persons” to try to fix the Fund’s problems with internal governance. It turns out a report by the Independent Evaluation Office (IEO) (see Update 61), an independent high-level panel (see Update 55), a book from the G24 group of developing countries (see Update 48) and numerous letters, reports, and briefings by parliamentarians, academics, officials and NGOs are not enough. The committee – including South African finance minister Trevor Manuel, former IMF head Michel Camdessus and academic Amartya Sen among others – will report back by April 2009. Strauss-Kahn hopes “the committee’s perspective will provide yet another important input to our reform efforts.” He is planning for quick action: concrete proposals by the annual meetings in the autumn of 2009.
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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