The governor of the Turkish central bank, Durmuş Yılmaz, cast doubt on whether Turkey would renew its arrangement with the IMF.
Following its expulsion of the World Bank’s country representative, Ecuador has now thrown the IMF’s resident representative out of the offices of the Central Bank.
Shortly after IMF members agreed to a new bilateral surveillance framework on exchange rates in June it was undermined by the US and criticised by civil society. Now the US wants the Fund to start regulating sovereign wealth funds.
After reviews of its engagement with low-income members the IMF is in the process of redesigning its programmes, but its recent changes on dealing with aid inflows have not satisfied critics of the Fund's inflexibility in allowing the scaling up of social spending.
The IMF executive board agreed to revise the legal framework for bilateral surveillance in June with the final text incorporating many of the safeguards demanded by developing countries but still angering the Chinese.
Member countries are increasingly rebuffing World Bank and IMF programmes, advice and even membership, with Latin American nations withdrawing from the Bank's investment arbitration mechanism.
A high powered working group examining the IMF and health spending found that the Fund has unduly constrained counties’ policy choices, while other recent reports accuse the World Bank and the IMF of undermining quality education. Meanwhile, the Bank’s private sector arm has stepped up its support for private schooling in Africa.
As a key part of its remit, the Commission on Growth and Development has identified twenty areas it deems crucial 'to furthering our understanding of long-term sustainable economic growth and development'.
In its annual report to parliament about the UK and the IMF, this year subtitled "Reform to delivery prosperity for all", the UK Treasury's most ambitious goal for 2007 is to revise the IMF's surveillance framework. While also setting out to build on the proposals for governance reform of the IMF, the report does not prioritise creating an open and merit-based process for selecting the managing director of the IMF, overhauling the transparency policy at the Fund, or grappling with the issue of w
IMF civil society dialogue, spring meetings 2007 (14 April 2007)