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IMF Governance ReformHigh-Level Panel on IMF Board Accountability
High-Level Panel on IMF Board Accountability
New Rules for Global Finance Coalition convened a panel of individuals with diverse backgrounds to determine how the governance and performance of the IMF could be improved. The attendees were invited to participate in a High-Level Panel to identify ways to move the IMF’s Executive Board toward greater accountability. The Panel focused its recommendations on steps that were both feasible in the short-term and promised to contribute to significant change in the accountability of the IMF over the long-term.
The members of the Panel share three fundamental characteristics. First, they share a strong commitment to the principle of accountability. Second, they are committed to a rules-based global financial system that functions for the benefit of all the Fund’s members. Third, they are highly knowledgeable about the Fund; some have worked in the Fund as senior staff or Executive Directors at some point in their careers.
The Panel focused its recommendations on steps that were both feasible in the short-term and promised to contribute to significant change in the accountability of the IMF over the long-term. For this reason, the Panel chose to give priority to those recommendations that would be consistent with the current legal framework of the Fund, that is, without the need for amendments to the Articles of Agreement.