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.
4 September 2008
World Bank & IMF in the news
Despite the World Bank’s commitment to move away from funding coal, a series of loopholes in its financial intermediary lending remain that will continue to allow finance to support coal power projects.