By Barry Carin, Angela Wood
Brings jointly best specialists from around the world to extra the controversy at the a variety of dimesions of responsibility of IMF to its a variety of sharholders and stakeholders. Having totally explored how the suggestion of responsibility will be pragmatically utilized it then exams numerous substitute appriaches and makes a few strategies.
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Extra resources for Accountability Of The International Monetary Fund (Voices in Development Management)
The advantage of this approach would be that a dialogue could begin relatively promptly. A disadvantage would be that the process would not have been initiated by a wide cross-section of the IMF's membership. B. Adjustment of Voting Shares Option 4: An agreement on raising voting share There could be an understanding that the voting share of developing countries, or more precisely of IMF debtor countries, would be established at some percentage below 50 per cent, but considerably more than the current level.
B. Adjustment of Voting Shares Option 4: An agreement on raising voting share There could be an understanding that the voting share of developing countries, or more precisely of IMF debtor countries, would be established at some percentage below 50 per cent, but considerably more than the current level. Decisions on how this increase was to be allocated within the developing country group could be left to developing countries. Decisions as to how the corresponding decrease would be effected from among the developed countries would be taken at the time of the in-principle decision of the amount of reallocation.
Second, IMF lending and conditionality typically takes place during a crisis when the IMF and finance ministry officials of a country must make decisions without time to engage in broad democratic consultations. If the Fund's role is not to be coercive, then the participation of the broader society must precede the crisis and be part of the normal politics of engagement between a country and the IMF. Finally, globalization and its detractors have intensified scrutiny of all international organizations and the IMF, like all others, must demonstrate and reinforce its claim legitimately to set standards and influence economic policies in its member countries.
Accountability Of The International Monetary Fund (Voices in Development Management) by Barry Carin, Angela Wood
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