The Boards of the IMF and World Bank have each established working groups to review the processes for selecting the Managing Director and President of the respective institutions.
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IFI governance
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IMF Agrees More Transparency
Executive directors have agreed to set up an independent evaluation unit for the IMF.
IFI governance
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Summmers Calls For Transparent Selection
US Treasury Secretary Lawrence Summers has suggested that the Fund and Bank should set up outside advisory committees which would choose new heads for the institutions from a panel of candidates.
IFI governance
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Blair appeal on global institutions
At the Davos Economic Summit in January UK Prime Minister Tony Blair called for serious debate about reforming global institutions.
IFI governance
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Horst Köhler new IMF head
A vote by the IMF Board has confirmed Horst K
IFI governance
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IMF succession process “secretive and undemocratic”
More than 120 NGOs and academics in 38 countries demanded an end to the secretive and undemocratic process for appointing the IMF Managing Director.
IFI governance
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G8 to G30
Michel Camdessus, former IMF Managing Director, has proposed that the G8 should be expanded to the G30, to include all countries represented on the IMF and World Bank boards plus representatives from the IMF, WB and UN institutions.
IFI governance
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Gold tied to IMF evaluation
US congress has agreed a proposal to revalue IMF gold to fund the HIPC Debt Initiative on the condition that the money earned is not used to refinance ESAF (now renamed the Poverty Reduction and Growth Facility - PRGF).
IFI governance
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Strategic Compact reform funding to end
The extra funding released to restructure the Bank under President Wolfensohn’s “Strategic Compact” reform initiative will run out in March 2000.
IFI governance
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Bank private sector strategy
In September the World Bank produced a new private sector development strategy.
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6 April 2023
World Bank and IMF Spring Meetings 2023
5 April 2023
The IMF at the 75th anniversary of the Universal Declaration of Human Rights: The need for governance reform
As the world celebrates the 75th anniversary of the Universal Declaration of Human Rights, it is time the IMF’s shareholders use the opportunities provided by the anniversary and growing calls for reforms to the international financial architecture to redesign the IMF’s governance structures and programmes to ensure they are consistent with the commitments outlined in 1948 and with international human rights law.
5 April 2023
The global financial architecture and the international debt crisis: An urgent call for reform
Influence of unreformed international financial institutions and creditor interests in debt solutions in low- and middle-income countries plagued by delay and ineffective when undertaken.