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New High-Level Panel on
Accountability of IMF Executive Board
Press Release: October 3, 2006
On Thursday, September 7, and Friday September 8, 2006, a new High-Level Panel
convened to consider the Accountability of the Board of Directors of the
International Monetary Fund. The Panel discussed emerging principles of
accountability and in that regard, examined the framework on accountability for
inter-governmental organizations (IGOs) that the One World Trust developed based
on research of, and engagement with, a wide range of IGOs and a cross-section of
their respective stakeholder groups. The One World Trust is a charity in the
United Kingdom that specializes in the accountability of transnational actors.
The Panel entered into a wide-ranging discussion, framed by the Fund’s Articles
of Agreement, the Fund’s constitution, on the Executive Board’s responsibilities
and on current and potential mechanisms of accountability. One of the Panelists
made a presentation on the accountability of the IMF to external stakeholders,
including a complaints mechanism that is already in use in a range of
intergovernmental organizations. Participants
expressed concerns about the Fund’s
current and evolving roles, raised constructive and probing questions about the
scope of reforms, and offered proposals for enhancing the Fund’s
accountability arrangements. The Panelists agreed to withhold any public
statement and recommendations until next year. They further agreed to share
written suggestions for discussion and distribution among themselves before the
Panel reconvenes in January 2007.
Panelists
participate in their personal capacity. Those present for this inaugural event
were:
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Charles Abugre, Head, Global
Advocacy & Policy Division, Christian Aid, UK/Ghana
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Marc-Antoine Autheman, Former IMF
& World Bank Executive Director, France
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Monica Blagescu, Accountability
Programme Manager, One World Trust, UK
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Jack Boorman, Former Counsellor
and Director of the Policy Development and Review Department, International
Monetary Fund, USA
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Daniel Bradlow, Professor of Law
& Director of International Legal Studies, Washington College of Law,
American University, USA/South Africa
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Binny Buchori, Executive
Director, Centre for Welfare Studies, Perkumpulan Prakarsa, Indonesia
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Jo Marie Griesgraber, Executive
Director, New Rules for Global Finance Coalition, USA
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Daniel Kaeser, Former IMF
Executive Director, Fellow of the Swiss Forum for International Affairs,
Switzerland
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Bulus Lolo, Minister, Permanent
Mission of Nigeria to the United Nations, Nigeria
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Djoomart Otorbaev, Former Deputy
Prime Minister, Kyrgyz Republic
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Jeff Powell, Coordinator, Bretton
Woods Project, UK
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James Riker, University of
Maryland, USA (Rapporteur)
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Leo Van Houtven, President, Per
Jacobsson Foundation, Belgium/USA
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Patrick
Watt, Policy Coordinator, ActionAid UK, participated on the behalf of Ramesh
Singh, Chief Executive, Action Aid International, UK and South Africa
The Panel was
organized by the New Rules for Global Finance Coalition, a Washington-based
non-profit organization, comprised of academics, researchers from think-tanks,
and non-governmental organization representatives who are committed to a global
financial system that promotes equitable, participatory and transparent methods
for eradicating poverty and sustaining the environment. The work of the Panel
is supported by a grant from the Ford Foundation.
Contact::
Jo Marie
Griesgraber
Executive Director
New Rules for
Global Finance Coalition
2200 Wilson Boulevard, Suite 650
Arlington, VA 22201
tel. 202-277-9390
fax. 703-841-0050
jgriesgraber@new-rules.org
www.new-rules.org
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