In early October Italian Economy Minister Tommaso Padoa-Schioppa was selected to be the next chair of the powerful International Monetary and Finance Committee (IMFC), marking the second European in a week to be chosen for a important position at the IMF.
Western Europe
Environment
Background
Highlights of BWI-UK network meeting with Douglas Alexander
Highlights of a 4 October meeting between NGOs in the BWI-UK network and secretary of state for international development, Douglas Alexander, addressing IFI strategic reviews, aid effectiveness, clean energy/climate change and a number of other issues.
Accountability
News
World Bank breaks silence on odious debt
The World Bank released a paper on 'odious debt' in September following months of silence, adding to a growing number of initiatives examining the concept.
IFI governance
News
New IMF head, same legitimacy problem
French socialist Dominique Strauss-Kahn has been selected to take over as the managing director of the IMF, but he comes in on a wave of displeasure with both the undemocratic system that selected him and the strategic direction of the Fund.
Accountability
News
Italian Senate passes IFI oversight act
An act of the Italian Senate on participation in replenishment of international funds and banks, approved by the Foreign Affairs Committee in July, commits the government review to credit mechanisms to include indicators of a country's capacity to achieve the MDGs, end support for water privatisation, advocate an end for fossil fuel support, and report on positions taken by the Italian representatives at the IFIs.
Accountability
Background
London consultation on the implementation plan of the World Bank's Governance and Anti-Corruption (G
Highlights of a consultation on the implementation plan of the World Bank's Governance and Anti-Corruption strategy, held in London 19 September 2007.
IFI governance
News
UK support for the Foundation for the Future
A freedom of information request submitted by the Bretton Woods Project has confirmed UK support for the mysterious foundation in the middle of the Paul Wolfowitz resignation scandal.
IFI governance
News
'That position is ours': Another European to head the IMF
Just 12 days after IMF managing director Rodrigo de Rato made a surprise announcement that he would resign in October, European countries have put forward a leading member of the French socialist party and former finance minister Dominique Strauss-Kahn to replace him. It is the second lost opportunity in as many months for reform of the anachronistic governance of the international financial institutions.
Social services
News
PPIAF on the ropes
The Public-Private Infrastructure Advisory Facility (PPIAF), a World Bank-administered body that advises countries on water privatisation projects, is facing renewed challenges.
Accountability
News
Spanish parliamentary oversight of IFIs
On 30 May, the Spanish parliament approved a motion requiring the executive to report annually on Spanish positions adopted at the World Bank and IMF.
Accountability
News
UK Treasury to focus on IMF surveillance
In its annual report to parliament about the UK and the IMF, the UK Treasury's most ambitious goal for 2007 is a revision of the IMF's surveillance framework.
IFI governance
Commentary
UK government urged to open IMF selection process after Rato
UK NGOs - including Oxfam, ActionAid, Christian Aid, the new economics foundation and the Bretton Woods Project - have called on the new UK government and its European partners to end the 63-year-old "gentlemen's agreement" that allows European governments to appoint the Managing Director of the International Monetary Fund and the United States government to appoint the President of the World Bank.
