The New Rules for Global Finance Coalition today released a new report by a High-Level Panel on IMF Board Accountability.
The Panel asserts that “a well-functioning global financial system requires a global institution with the mandate of the IMF that is responsive to its membership, and accountable through its shareholders to the global community.” However, the Panel expressed concern that the Fund’s current “weakness in accountability undermines the legitimacy and effectiveness of the Fund.”
The Panel is comprised of a wide range of people knowledgeable about the IMF and committed to the principle of accountability. It includes former executive directors and senior staff members, academics, and representatives from non-governmental organizations, all of whom acted in their personal capacity. The Reports recommendations represent a consensus among the Panelists. The names of the panelists follow.
The IMF Executive Directors invited the Panel to present its recommendations in an informal seminar prior to releasing the Report to the public.
See full Press Release.
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