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Executive Board Report To The Imfc On Reform Of Fund Governance
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Book Synopsis Executive Board Report to the IMFC on Reform of Fund Governance by : International Monetary Fund
Download or read book Executive Board Report to the IMFC on Reform of Fund Governance written by International Monetary Fund and published by International Monetary Fund. This book was released on 2009-03-10 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper responds to the request in the April 2009 IMFC communiqué for the Executive Board to report on governance reform. The current crisis has shown that the Fund’s decision-making structures can deliver the kind of innovative and rapid responses the membership needs and expects. Even so, there is an undercurrent of doubt about the future, reflecting the perception that much of the recent responsiveness has been driven by outside forces (e.g., the G-20) and that, once the crisis fades, old dissatisfactions with vote, voice and process will resurface to undermine the political backing that has been key to the Fund’s renewal. Hence, the IMFC’s interest in reforms to underpin the institution’s legitimacy and effectiveness is important and timely. This report focuses on five areas: fair quota share; high-level engagement; effective decision-making and representation at the Executive Board; open selection of management (and, more broadly, staff diversity); and updating of the Fund’s mandate.
Book Synopsis Executive Board Progress Report to the IMFC on the Reform of Fund Governance by : International Monetary Fund. Finance Dept.
Download or read book Executive Board Progress Report to the IMFC on the Reform of Fund Governance written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2010-06-22 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: At its most recent meeting in April 2010, the IMFC pledged to complete the 14th General Review of Quotas before January 2011. This follows an earlier call by G-20 Leaders and the IMFC to bring forward the deadline for completing the 14th Review by two years as part of the multilateral response to the global financial crisis and the recognized need to enhance the Fund’s legitimacy and effectiveness.
Book Synopsis Executive Board Report to the IMFC on Reform of Fund Governance by : Internationaler Währungsfonds
Download or read book Executive Board Report to the IMFC on Reform of Fund Governance written by Internationaler Währungsfonds and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper responds to the request in the April 2009 IMFC communique for the Executive Board to report on governance reform. The current crisis has shown that the Fund's decision-making structures can deliver the kind of innovative and rapid responses the membership needs and expects. Even so, there is an undercurrent of doubt about the future, reflecting the perception that much of the recent responsiveness has been driven by outside forces (e.g., the G-20) and that, once the crisis fades, old dissatisfactions with vote, voice and process will resurface to undermine the political backing that has been key to the Fund's renewal. Hence, the IMFC's interest in reforms to underpin the institution's legitimacy and effectiveness is important and timely. This report focuses on five areas: fair quota share; high-level engagement; effective decision-making and representation at the Executive Board; open selection of management (and, more broadly, staff diversity); and updating of the Fund's mandate.
Book Synopsis Executive Board Progress Report to the IMFC on the Reform of Fund Governance by : Internationaler Währungsfonds
Download or read book Executive Board Progress Report to the IMFC on the Reform of Fund Governance written by Internationaler Währungsfonds and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: At its most recent meeting in April 2010, the IMFC pledged to complete the 14th General Review of Quotas before January 2011. This follows an earlier call by G-20 Leaders and the IMFC to bring forward the deadline for completing the 14th Review by two years as part of the multilateral response to the global financial crisis and the recognized need to enhance the Fund's legitimacy and effectiveness.
Book Synopsis Executive Board Report to the IMFC on Quota and Governance Reforms by : International Monetary Fund
Download or read book Executive Board Report to the IMFC on Quota and Governance Reforms written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-07-10 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the IMFC last met in April, the Executive Board has taken up the full range of quota and other governance reforms. While there has been some movement on the many complex issues, discussions have been inconclusive, and no proposal has been able to command broad support. The concluding remarks that sum up these meetings lay out the various positions taken by members of the Board (attached). The debate is continuing, and we hope to make progress on finding the possible elements of a compromise acceptable to the membership.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498335829 Total Pages :40 pages Book Rating :4.4/5 (983 download)
Book Synopsis IMF Governance-Summary of Issues and Reform Options by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book IMF Governance-Summary of Issues and Reform Options written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2009-01-07 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper summarizes the main governance challenges and reform options facing the IMF, drawing together the analysis and reform proposals in the reports of the Eminent Persons Group (headed by Trevor Manuel), the IEO, and a range of other recent work on Fund governance. Lest the wide scope of these inputs result in a laundry list, judgment has been exercised in selecting key issues and proposals, and in laying out some of the pros and cons. With reform of quotas/voting power on a separate track, the focus here is on the institutional framework through which members express voting power, weaknesses in which are seen by many to have eroded the Fund’s legitimacy and effectiveness, thereby displacing the debate and initiative to outside entities. While an overall reform package would have to include quota shares, the key proposals discussed here aim to: increase political engagement and oversight; enhance Executive Board effectiveness and representation; modify voting rules; better delineate responsibilities; open up management selection; and tackle problems with mandate and institutional culture that limit the issues and approaches taken. Civil society has expressed a range of concerns related to IMF governance, including with regard to accountability at all levels (IMFC, Executive Board, management, and staff), mechanisms for responding to complaints and feedback from the broader public, and transparency. Given the diversity of their interests, and to provide unfiltered access to CSO views, the supplement: Fourth Pillar Recommendations from Civil Society; Preliminary Summary of Principles, Issues and Recommendations; has been prepared by CSO groups.
Book Synopsis Executive Board Progress Report to the IMFC on the Fund's Mandate by : International Monetary Fund
Download or read book Executive Board Progress Report to the IMFC on the Fund's Mandate written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-06-10 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper responds to the IMFC call to review, in light of the crisis, the Fund’s mandate over macroeconomic and financial sector policies bearing on global stability. The crisis exposed weaknesses in economic oversight—national, regional, and global—prior to the crisis, prompting major institutional innovations to uncover risks and meet large and diverse financing needs. Despite progress, it still needs to be asked if the mandate in the Fund’s Articles is up to the challenges ahead. The Board’s deliberations, which are far from complete, have prompted it to emphasize practical steps to deliver on the Fund’s broad stability mandate, with any need to amend the Articles reconsidered in light of experience. The effectiveness of these steps will also depend on quota and governance reform, as confidence in the Fund as an impartial overseer of global stability and lender of last resort rests on its legitimacy.
Book Synopsis Executive Board Report to the IMFC on Quota and Governance Reforms by : Internationaler Währungsfonds
Download or read book Executive Board Report to the IMFC on Quota and Governance Reforms written by Internationaler Währungsfonds and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the IMFC last met in April, the Executive Board has taken up the full range of quota and other governance reforms. While there has been some movement on the many complex issues, discussions have been inconclusive, and no proposal has been able to command broad support. The concluding remarks that sum up these meetings lay out the various positions taken by members of the Board (attached). The debate is continuing, and we hope to make progress on finding the possible elements of a compromise acceptable to the membership.
Book Synopsis Governance of the IMF by : International Monetary Fund. Independent Evaluation Office
Download or read book Governance of the IMF written by International Monetary Fund. Independent Evaluation Office and published by International Monetary Fund. This book was released on 2008-09-23 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the degree to which the IMF governance is effective and efficient, and whether it provides sufficient accountability and channels for stakeholders to have their views heard. The focus is on institutional structures as well as on the formal and informal relationships between the IMF’s main bodies of governance: the Executive Board, Management, and the International Monetary and Financial Committee. The evaluation highlights that for much of the past six decades, gradual reforms in its governance allowed the IMF to remain relevant in a changing world economy.
Book Synopsis Executive Board Progress Report to the IMFC on the Fund's Mandate by : Internationaler Währungsfonds
Download or read book Executive Board Progress Report to the IMFC on the Fund's Mandate written by Internationaler Währungsfonds and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper responds to the IMFC call to review, in light of the crisis, the Fund's mandate over macroeconomic and financial sector policies bearing on global stability. The crisis exposed weaknesses in economic oversight-national, regional, and global-prior to the crisis, prompting major institutional innovations to uncover risks and meet large and diverse financing needs. Despite progress, it still needs to be asked if the mandate in the Fund's Articles is up to the challenges ahead. The Board's deliberations, which are far from complete, have prompted it to emphasize practical steps to deliver on the Fund's broad stability mandate, with any need to amend the Articles reconsidered in light of experience. The effectiveness of these steps will also depend on quota and governance reform, as confidence in the Fund as an impartial overseer of global stability and lender of last resort rests on its legitimacy.
Book Synopsis IMF Governance Reform by : International Monetary Fund. Finance Dept.
Download or read book IMF Governance Reform written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2010-08-17 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews progress under the Fund’s strengthened cooperative strategy on overdue financial obligations. Since the last review, total arrears to the Fund declined by SDR 17.5 million to SDR 1,309.5 million. Payments to the Fund by Sudan and Zimbabwe were in excess of new obligations falling due, and a decrease in Somalia’s arrears resulted from the full settlement of its overdue obligations to the SDR Department in the context of the general SDR allocation in August 2009.
Book Synopsis Governance of the IMF by : International Monetary Fund. Independent Evaluation Office
Download or read book Governance of the IMF written by International Monetary Fund. Independent Evaluation Office and published by International Monetary Fund. This book was released on 2018-11-07 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2008, the IEO undertook an evaluation on the IMF governance and concluded that effectiveness had been the strongest aspect of IMF governance, while accountability and voice had been the weakest. Since then, IMF governance has been strengthened aided by quota and voice reforms to address misalignments in shares and chairs as well as numerous improvements in governance procedures and practices. The update finds that IMF governance has proven its effectiveness in supporting the Fund to fulfill its mandates, but concerns remain on voice and accountability. Challenges remain related to representation and voice, interaction between governance bodies, the selection process for management, and the role of the G20 in IMF governance. Addressing these challenges will take time and may be subject to difficult tradeoffs between governance objectives such as preserving effectiveness while ensuring appropriate representation.
Book Synopsis Report of the Managing Director to the International Monetary and Financial Committee on IMF Quota and Voice Reform by : International Monetary Fund
Download or read book Report of the Managing Director to the International Monetary and Financial Committee on IMF Quota and Voice Reform written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-09-14 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The April 2006 Communiqué of the IMFC called upon the Managing Director to work with the IMFC and the Executive Board to come forward with concrete proposals on IMF quota and voice reform for agreement at the Singapore Annual Meetings in September 2006. An intensive work program on quotas and voice was launched, involving IMF management and staff consultations with a broad spectrum of the membership and discussions in the Executive Board, building on earlier discussions of this issue, including in the context of the IMF’s medium-term strategy. Specific reform proposals were discussed on several occasions by the Executive Board, most recently on August 31, 2006. I am pleased that the Executive Board reached agreement on a comprehensive program of reforms, and recommended that the Board of Governors adopt, by September 18, 2006, a resolution that provides for a two-year plan of action.
Book Synopsis Report of the Executive Board Working Group on IMF Corporate Governance by :
Download or read book Report of the Executive Board Working Group on IMF Corporate Governance written by and published by . This book was released on 2008 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: "On May 21, 2008, the Executive Board discussed the report of the Independent Evaluation Office (IEO) on 'Aspects of IMF Corporate Governance--Including the Role of the Executive Board.' The Joint Statement issued by the Executive Board and the Managing Director following the Board discussion noted that many of the issues raised by the IEO were complex and interrelated. Furthermore, the follow-up discussion would require the engagement of all parties at many different levels, involving not only the Executive Board and Management, but also the Fund's membership and other stakeholders more broadly. This report presents the recommendations of the Working Group, based on work carried out during June-July 2008. The proposed detailed work plan in Table 1 is an integral part of this report. Section II of the report describes the work streams. Section III discusses issues beyond the IEO report and proposes a monitoring process. Section IV presents the recommendations"--International Monetary Fund website.
Book Synopsis Statement by the Managing Director on the Interim Work Program of the Executive Board by : International Monetary Fund
Download or read book Statement by the Managing Director on the Interim Work Program of the Executive Board written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-12-14 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: This interim work program statement reflects the imperative of accelerating the process of reform that has been underway in the Fund for some time.
Book Synopsis Statement by the Managing Director on the Work Program of the Executive Board by : International Monetary Fund
Download or read book Statement by the Managing Director on the Work Program of the Executive Board written by International Monetary Fund and published by International Monetary Fund. This book was released on 2018-07-12 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Work Program (WP) translates the strategic directions and policy priorities laid out in the Spring 2018 Global Policy Agenda (GPA) Update and the International Monetary and Financial Committee (IMFC) Communiqué into an Executive Board agenda for the next twelve months.
Book Synopsis Proposed Amendment on the Reform of the IMF Executive Board and Fourteenth General Review of Quotas—Status of Acceptances and Consents by : International Monetary Fund. Legal Dept.
Download or read book Proposed Amendment on the Reform of the IMF Executive Board and Fourteenth General Review of Quotas—Status of Acceptances and Consents written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2012-02-08 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: This status report reviews progress toward implementation of the 2010 Governance and Quota Reforms. It updates the status of consents to the proposed quota increases under the 14th General Review of Quotas and of acceptances of the Proposed Seventh Amendment on the Reform of the Executive Board (“Board Reform Amendment” or “Seventh Amendment”) as set out in the Board of Governors Resolution No. 66-2. For the proposed quota increases under the 14th General Review of Quotas to become effective, members having not less than 70 percent of the total of quotas on November 5, 2010 must consent to the increases in their quotas and the proposed Board Reform Amendment must have entered into force. The proposed Board Reform Amendment enters into force once the Fund certifies that three-fifths of the members (i.e., currently 113 members) representing 85 percent of the total voting power have accepted the proposed amendment.
