With the imminent departure of Anne Krueger from the post of first deputy managing director of the IMF, Rodrigo de Rato had a unique chance to move the Fund in a different direction as it looks to implement its medium-term strategic review. Instead, the managing director nominated US banker John Lipsky, maintaining the convention of keeping the top two posts at the Fund split between the transatlantic power centres.
Finance
Accountability
Background
Debt, conditionality and corruption: Civil society strategy session
Highlights of a 20 April civil society strategy session in Washington on debt, conditionality and corruption.
Finance
Background
Dialogue on Fund role in middle-income countries
Dialogue on Fund role in middle-income countries at the World Bank-IMF spring meetings in Washington, Thursday 20 April.
Finance
Background
Highlights of UK NGO meeting with executive director to the WB and IMF, Tom Scholar
Brief highlights of NGO meeting with Tom Scholar, April 2006
Finance
News
Will IMF set its sights on managing global reserves?
The managing director's report on implementing the Fund's medium-term strategy was discussed by the board 3 April and is anticipated to be released at the spring meetings. Civil society groups have been critical of the opaqueness of the process and the failure to broaden participation.
Conditionality
News
World Bank approves $37 billion in debt relief
World Bank member nations approved $37 billion in debt relief for 17 countries at the end of March.
Finance
Analysis
Trip wires and speed bumps in service of global financial stability: A proactive role for the IMF
Under the current IMF strategic review, a "review of the effectiveness of the Fund's instruments to facilitate crisis resolution" is planned. Ilene Grabel, professor of international finance at the University of Denver, argues that the Fund must move from being a reactive institution to being a pro-active one. The IMF should use its technical expertise to mitigate the risks that culminate in financial crises, involving a programme of 'trip wires and speed bumps'.
Finance
Analysis
The IMF and capital flight: Redesigning the international financial architecture
The international financial system facilitates trillions of dollars of capital flight from developing and developed countries to onshore and offshore financial centres, with the active participation of banks and other financial institutions. The consequences are massive tax evasion, a resultant erosion of state budgets, and rising disrespect for the law. The relevant international organisations that, working together, can change this situation are the IMF, the OECD, and the UN.
Conditionality
News
IMF debt deal 'a victory'
In December, the IMF board approved 100 per cent debt relief to 19 countries under the Multilateral Debt Relief Initiative amounting to $3.3 billion.
Finance
News
Latin America sends IMF packing
The IMF's role and financial health have been brought into further question as a result of the early repayment of two of its largest debtors.
