By Barry Carin, Angela Wood
Brings jointly top specialists from world wide to extra the talk at the quite a few dimesions of responsibility of IMF to its a number of sharholders and stakeholders. Having totally explored how the concept of responsibility will be pragmatically utilized it then exams quite a few replacement appriaches and makes a few innovations.
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Additional info for Accountability Of The International Monetary Fund (Voices in Development Management)
It assesses the existing role of parliamentarians in holding the board accountable and in shaping Fund policies and programs. It concludes with recommendations for enhancing that role. Underscoring the analysis is the assumption, now openly recognised by the IMF, that the institution's effectiveness depends upon a greater engagement with parliaments and citizens within countries. Compliance with Fund-supported policies, even where they are narrowed to a focused minimum of conditionality, cannot be achieved simply by enhancing the Fund's public relations.
A significant portion of the institution's resources now focuses on assisting members develop sound PRSPs. The IMF has hosted several major international conferences on the PRSP and sought to actively link the PRSP process with the objectives of the Millennium Development Goals. 23 A key impetus to the IMF's involvement in low-income countries occurred in December 1999, when the Executive Boards of the IMF and the World Bank launched the PRSP initiative; and in the same month, the IMF Executive Board transformed the former Extended Structural Adjustment Facility (ESAF) into the PRGF.
Consequences of Declining Relative Voting Share of SSA Members With an improved voice for SSA members, board efficiency and effectiveness in regard particularly to the IMF's work in low-income countries could have been far more effective. The absence of adequate voice has meant a direct and unnecessary cost to the Fund's reputation and its ability to succeed in its own objectives of reducing poverty, by not adequately understanding and incorporating the views of a significant share of the membership, on a set of issues which in fact affects a majority of the IMF's member countries and on which these countries have the most incisive and direct experience and knowledge.
Accountability Of The International Monetary Fund (Voices in Development Management) by Barry Carin, Angela Wood