Executive Board Progress Report To The Imfc On The Reform Of Fund Governance

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Executive Board Progress Report To The Imfc On The Reform Of Fund Governance

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Author : International Monetary Fund. Finance Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2010-06-22

Executive Board Progress Report To The Imfc On The Reform Of Fund Governance written by International Monetary Fund. Finance Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-06-22 with Business & Economics categories.

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.

Executive Board Progress Report To The Imfc On The Fund S Mandate

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2010-06-10

Executive Board Progress Report To The Imfc On The Fund S Mandate written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-06-10 with Business & Economics categories.

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.

Executive Board Report To The Imfc On Reform Of Fund Governance

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2009-03-10

Executive Board Report To The Imfc On Reform Of Fund Governance written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-03-10 with Business & Economics categories.

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.

Executive Board Progress Report To The Imfc On The Reform Of Fund Governance

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Author : Internationaler Währungsfonds
language : en
Publisher:
Release Date : 2010

Executive Board Progress Report To The Imfc On The Reform Of Fund Governance written by Internationaler Währungsfonds and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.

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.

Imf Governance Reform

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Author : International Monetary Fund. Finance Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2010-08-17

Imf Governance Reform written by International Monetary Fund. Finance Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-08-17 with Business & Economics categories.

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.

Executive Board Report To The Imfc On Quota And Governance Reforms

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2010-07-10

Executive Board Report To The Imfc On Quota And Governance Reforms written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-10 with Business & Economics categories.

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.

Progress Report To The Imfc On The Activities Of The Independent Evaluation Office Of The Imf

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2018-10-13

Progress Report To The Imfc On The Activities Of The Independent Evaluation Office Of The Imf written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-13 with Business & Economics categories.

Over the past six months, a key theme has been ensuring strong follow-up to IEO evaluations, a priority stressed by the recently competed External Evaluation of the IEO. Of particular note, the Managing Director has issued a statement highlighting actions planned to strengthen the IMF’s engagement with fragile states following our recent evaluation, and this statement is being presented to the IMFC for endorsement. In addition, the IEO has completed two updates of past evaluations, advanced work on two ongoing evaluations (on IMF financial surveillance and on IMF advice related to unconventional monetary policies), and is now considering its future work program in light of the External Evaluation.

Governance Of The Imf

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Author : International Monetary Fund. Independent Evaluation Office
language : en
Publisher: International Monetary Fund
Release Date : 2018-11-07

Governance Of The Imf written by International Monetary Fund. Independent Evaluation Office and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-07 with Business & Economics categories.

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.

Interim Steps On Quota And Governance Reform Report Of The Executive Board To The Board Of Governors

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-04-06

Interim Steps On Quota And Governance Reform Report Of The Executive Board To The Board Of Governors written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-06 with Business & Economics categories.

In light of continuing delays in the implementation of the 2010 quota and governance reforms (hereafter the “2010 Reforms”), the Board of Governors, in February 2015, adopted Resolution No. 70-1, which (i) expressed its deep regret that the quota increases under the Fourteenth General Review of Quotas (hereafter the “Fourteenth Review”) and the Proposed Amendment on the Reform of the Executive Board (hereafter the “Board Reform Amendment”) have not become effective, and that the Fifteenth General Review of Quotas (hereafter the “Fifteenth Review”) has not been completed; (ii) emphasized the importance and urgency of the 2010 Reforms for the Fund’s credibility, legitimacy, and effectiveness, and reiterated its commitment to their earliest possible implementation; (iii) urged the remaining members who have not yet accepted the Fourteenth Review quota increases and the Board Reform Amendment to do so without further delay; (iv) called for the completion of the Fifteenth Review by December 15, 2015; and (v) called on the Executive Board to work expeditiously and to complete its work as soon as possible on interim steps in the key areas covered by the 2010 Reforms, pending their full implementation, and thus to enable the Board of Governors to reach agreement on steps that represent meaningful progress towards the objectives of the 2010 Reforms by June 30, 2015.

Statement By The Managing Director On The Work Program Of The Executive Board Executive Board Meeting June 3 2009

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2009-03-06

Statement By The Managing Director On The Work Program Of The Executive Board Executive Board Meeting June 3 2009 written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-03-06 with Business & Economics categories.

Against the backdrop of a global economic crisis, the IMFC has underscored the Fund’s central role in responding to its membership’s needs and restoring prosperity and financial stability. The Fund has acted with alacrity—by overhauling its lending framework; mobilizing strong support and firm pledges toward a tripling of its resources; and continuing to strengthen the quality of its surveillance. The work program is heavy, reflecting the responsibilities assigned to the Fund by the international community and the needs of our membership.