A new informal network of civil society organizations has begun working together to overcome the secrecy surrounding the operations of International Financial Institutions.
Senior officials have recently backed closer European government collaboration on World Bank and IMF policies.
A new report compares the accountability mechanisms of 18 selected global institutions, transnational companies and NGOs.
A new study reveals complex aspects of the undemocratic nature of the IMF.
Discussion of the key issues to be raised when the Development Committee discusses reforms to the governance structure of the IFIs at the Spring Meetings this April.
The release of Development, Trade and the WTO: A Handbook signals the World Bank’s rapidly increasing involvement in trade issues, triggering fears that its policy biases will gain too influential a foothold.
A number of efforts are moving forward to make it easier for elected representatives to monitor the World Bank. They include the World Bank Parliamentary Network and initiatives stemming from the World Social Forum and the French parliament. Closer collaboration with NGO Bank-watchers will help make them a success.
The World Bank has appointed a new Vice President for “results”. He commented, “we need to move from largely measuring inputs to better focusing on outputs and outcomes”. This is a response to calls from the US administration which has said it will make future contributions to the Bank conditional on measuring precise results.
A new briefing argues for a reformed International Monetary Fund within “a new financial architecture”.
The joint draft report from the Executive Board Working Groups reviewing the leadership selection processes of the World Bank and IMF recommends that candidates could be nationals of any member country, and that Executive Directors should agree on a shortlist and make an appointment by consensus.