Process for the Fourth Pillar Online Discussion Space
In September 2008, Dominique Strauss-Kahn, the Managing Director of the International Monetary Fund (IMF), laid out a four-pillar approach to reforming the governance structure of the IMF. The four pillars are: 1st Pillar: IMF Independent Evaluation Office of the IMF; 2nd Pillar: A working group of the IMF Executive Directors; 3rd Pillar: A committee of eminent persons; 4th Pillar: Direct interaction with civil society organizations. 6/10/2009.
In September 2008, Dominique Strauss-Kahn, the Managing Director of the International Monetary Fund (IMF), laid out a four-pillar approach to reforming the governance structure of the IMF.
The four pillars are:
- 1st Pillar: IMF Independent Evaluation Office of the IMF
- 2nd Pillar: A working group of the IMF Executive Directors
- 3rd Pillar: A committee of eminent persons
- 4th Pillar: Direct interaction with civil society organizations.
Goal of the Online Discussion Space
Solicit Civil Society commentaries on the IMF’s Governance Reforms or “fourth pillar”.
Who Are Civil Society Organizations (CSOs)?
Civil Society encompasses all individuals and organizations that are not governmental. Therefore, included are: grassroots groups, non-governmental organizations (NGOs), academics, think-tanks, individuals who do not presently work for any level of government or governmental organizations, and the private or for-profit sector.
The main tool in the site is a forum/discussion board where members can post ideas, questions, and documents for other members to comment. CSOs in developing countries are especially urged to organize their own regional discussions on the site. There will be limited options for video-conferencing, especially with Southern-based CSOs.
The site will accept discussions and contributions through the duration of the Consultation. After the end date, all discussions will be archived and Members will have access to view, but not edit the content
CSO Administrator Contact
Organization: New Rules for Global Finance
Fax: + 1 (202) 280-1141
Phone: +1 (202) 247-7486
Address: 1717 Massachusetts Avenue, NW, Ste 801, Washington, DC 20036.
Guidelines for Submitting Content
- There is no limit or outline for content. “Nothing is taboo.” CSOs are encouraged to keep submissions topical. This space is for the discussion of IMF Governance Reforms. Topics include, but are not limited to: leadership selection, quota formulation, IMF transparency, IMF accountability, IMF institutional governance. Contributors are encouraged to review and reflect on the “Purposes of the IMF” as contained in the Articles of Agreement. (A topical outline will be submitted by the CSO Administrator.)
- The content of this process will come from CSOs and it will be managed by CSOs. This web-space is moderated by New Rules for Global Finance, which is administering the site in coordination with the International Monetary Fund. Content will be monitored by the IMF, but may only be removed or edited by the CSO Administrator.
- Submissions may not include inappropriate content. This space is developed to foster discussion and civil society input in a positive way. Personal attacks, inappropriate language, etc. will not be approved for posting on the site.
- The principal language of the web-space will be English; however the IMF has offered to translate a reasonable number of submissions.
- Southern CSOs with limited connectivity should contact the CSO Administrator for alternate ways to post materials and to comment on papers.
Process for Generating Reports to the IMF
- The writing and editing of the report will be coordinated by New Rules for Global Finance.
- Draft versions of the interim and final reports will be posted for comment.
- The principal language of the report will be English; the IMF has offered to translate the reports in Arabic, Chinese, French, Russian, and Spanish.
- Interim and the final CSO reports will be posted on the IMF website, and will be available for electronic dissemination to all CSO participants. New Rules sees dissemination as a core element of its responsibilities.
- When there is considerable “traffic” on the web, there will be a week’s summary posted.
Opportunities for CSO Input
- July 22, 2009: Meeting of the IMF Executive Directors: CSO submissions included in content for IMF Staff paper & preliminary summary of CSO Recommendations
- September 1, 2009: CSO Paper submitted to IMF Executive Directors
- October 6 or 7, 2009: Managing Director, Strauss-Kahn will to meet with CSOs at the IMF/World Bank Annual Meeting in Istanbul.
Timeline for the Consultation
By Friday, June 19, the CSO administrator will submit the first round of core documents to the IMF staff who are writing a paper to be submitted to the IMF Executive Board on July 1, and discussed July 22.
- Consultation administrators are gathering documents that have been submitted by June 19.
- These documents do not have to be summarized. Full texts will be submitted to the IMF staff writing the paper.
By Friday, July 10, the CSO administrator will submit a preliminary summary of the principles, recommendations and issues to be considered by the Board of Governors / IMFC / Executive Board
- This 3-page paper will be submitted to the paper going to the Executive Board for their July 22 discussion.
- In short, CSOs have 2 opportunities to provide input into the important July 22 discussion. (The June 19 submission of full texts and the July 10 3-page summary.)
Between August 1 and August 10,
- CSOs can submit additional material to the Executive Board for the IMFC;
- CSOs can meet personally, by teleconference and/or video conference with the IMF Staff writing the Board paper to discuss additional points, express priorities, give opportunities for those who are able to speak better than express themselves in writing, etc.;
- The IMF External Relations team is seeking a time when CSOs can meet with the IMF Executive Board in an informal session, either early in August or late August/early September. (The Executive Board is in recess the second and third weeks of August.)
- The CSO paper can be submitted to the IMFC through the Executive Board if the Board decides to do so.
October 6/7, at the IMF/World Bank Annual Meeting in Istanbul,
- Managing Director Strauss-Kahn has agreed to meet with CSOs in Istanbul regarding our input;
- This could take the form of a “side-event” within the formal process open to other government representatives;
- A side-event on IMF Governance Reform for CSO participants that is open to all CSOs.
|Administrators||Invite members, maintains the site, add features|
|Members||Contribute to the discussion, organize own discussion around topics, disseminate reports|
|Moderators||Monitor discussion and delete inappropriate comments|
Status of the Four Pillars
1st Pillar: IEO of the IMF.
On May 28, 2008 the IEO released a report “Governance of the IMF: An Evaluation”
2nd Pillar: A working group of the IMF Executive Directors, chaired by Thomas Moser, Executive Director for Azerbaijan, Kyrgyz Republic, Poland, Serbia and Montenegro, Switzerland, Tajikistan, Turkmenistan and Uzbekistan of the IMF.
On July 31, 2008 the Report of the Executive Board Working Group on IMF Governance was released.
On September 29, 2008, the IMF Executive Board Discusses Working Group Report Following IEO Evaluation of Fund Corporate Governance, Public Information Notice no. 08/134, October 10th of 2008
3rd Pillar: A committee of eminent persons chaired by Trevor Manuel, Finance Minister of South Africa.
On March 24, 2009 the committee of eminent persons on IMF Governance Reform released their “Final Report.”
4th Pillar: Direct interaction with civil society organizations.
On March 11, 2009 CSOs met with IMF Staff to discuss reforming the governance of the IMF.
On April 17, 2009 the IMF Managing Director, Dominique Strauss-Khan, met with CSO representatives to hear their views on IMF Governance Reform. The IMF Managing Director asked New Rules to facilitate the outreach to CSOs, and to coordinate feedback.
On April 24, 2009 members of civil society wrote a Letter to the Managing Director of the IMF: Calling for Concrete Policy Reforms.
On June 11, 2009 the Fourth Pillar Online Discussion Space was launched.[English / Español-Spanish / Français-French]
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