Download or read book Executive Board Report to the IMFC on Quota and Governance Reforms written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-07-10 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Executive Board Report to the IMFC on Quota and Governance Reforms written by Internationaler Währungsfonds and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Executive Board Report to the IMFC on Reform of Fund Governance written by International Monetary Fund and published by International Monetary Fund. This book was released on 2009-03-10 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Executive Board Progress Report to the IMFC on the Reform of Fund Governance written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2010-06-22 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Interim Steps on Quota and Governance Reform Report of the Executive Board to the Board of Governors written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-06 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Fifteenth General Review of Quotas Report of the Executive Board to the Board of Governors written by International Monetary Fund and published by International Monetary Fund. This book was released on 2016-01-22 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: In completing the Fourteenth General Review of Quotas (hereafter the “Fourteenth Review”) and approving the proposed Amendment on the Reform of the Executive Board (hereafter the “Board Reform Amendment”), the Board of Governors requested the Executive Board to bring forward the timetable for completion of the Fifteenth General Review of Quotas (hereafter the “Fifteenth Review”) to January 2014.

Download or read book Proposed Amendment on the Reform of the IMF Executive Board and Fourteenth General Review of Quotas Status of Acceptances and Consents written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2013-06-14 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: This status report reviews progress toward implementation of the 2010 Quota and Governance Reforms. It updates the status of consents to the proposed quota increases under the 14th General Review of Quotas and of acceptances of the Proposed Seventh Amendment on the Reform of the Executive Board (“Board Reform Amendment” or “Seventh Amendment”) as set out in the Board of Governors Resolution No. 66-2.

Download or read book Executive Board Report to the IMFC on Reform of Fund Governance written by Internationaler Währungsfonds and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper responds to the request in the April 2009 IMFC communique 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.

Download or read book Report of the Managing Director to the International Monetary and Financial Committee on IMF Quota and Voice Reform written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-09-14 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The April 2006 Communiqué of the IMFC called upon the Managing Director to work with the IMFC and the Executive Board to come forward with concrete proposals on IMF quota and voice reform for agreement at the Singapore Annual Meetings in September 2006. An intensive work program on quotas and voice was launched, involving IMF management and staff consultations with a broad spectrum of the membership and discussions in the Executive Board, building on earlier discussions of this issue, including in the context of the IMF’s medium-term strategy. Specific reform proposals were discussed on several occasions by the Executive Board, most recently on August 31, 2006. I am pleased that the Executive Board reached agreement on a comprehensive program of reforms, and recommended that the Board of Governors adopt, by September 18, 2006, a resolution that provides for a two-year plan of action.

Download or read book 2010 Reforms and Fifteenth General Review of Quotas Report of the Executive Board to the Board of Governors Decision written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-01-02 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: In completing the Fourteenth General Review of Quotas (hereafter the “Fourteenth Review”) and approving the Proposed Amendment on the Reform of the Executive Board (hereafter the “Board Reform Amendment”), the Board of Governors requested the Executive Board to bring forward the timetable for completion of the Fifteenth General Review of Quotas (hereafter the “Fifteenth Review”) to January 2014. The Executive Board was also requested to complete a comprehensive quota formula review by January 2013. These forward-looking elements were part of an agreed package of 2010 quota and governance reforms (hereafter the “2010 Reforms”). Each member committed to use its best efforts to complete the required steps for the effectiveness of the quota increases under the Fourteenth Review no later than the Annual Meetings in 2012.

Download or read book Executive Board Progress Report to the IMFC on the Fund s Mandate written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-06-10 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book IMF Quota and Governance Reform Elements of an Agreement written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2010-10-31 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper sets out, and seeks to make operational, a core package for the consideration of the Executive Board and, subsequently, the Board of Governors. The reforms would lead to a major overhaul of the Fund’s quotas and governance, strengthening the Fund’s legitimacy and effectiveness. The paper proposes completion of the 14th General Review of Quotas with a doubling of quotas and a major realignment of quota shares among members. It also covers proposals that would lead to a more representative, all-elected Executive Board.

Download or read book Executive Board Progress Report to the IMFC on the Reform of Fund Governance written by Internationaler Währungsfonds and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Outcome of the Quota Formula Review Report of the Executive Board to the Board of Governors written by International Monetary Fund and published by International Monetary Fund. This book was released on 2013-01-30 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: In completing the Fourteenth General Review of Quotas and approving the Proposed Amendment on the Reform of the Executive Board, the Board of Governors requested that the Executive Board complete a comprehensive review of the quota formula by January 2013. The Executive Board was also requested to bring forward the timetable for completion of the Fifteenth General Review of Quotas (hereafter the 15th Review) to January 2014.

Download or read book Executive Board Progress Report to the IMFC on the Fund s Mandate written by Internationaler Währungsfonds and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book IMF Governance Summary of Issues and Reform Options written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2009-01-07 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper summarizes the main governance challenges and reform options facing the IMF, drawing together the analysis and reform proposals in the reports of the Eminent Persons Group (headed by Trevor Manuel), the IEO, and a range of other recent work on Fund governance. Lest the wide scope of these inputs result in a laundry list, judgment has been exercised in selecting key issues and proposals, and in laying out some of the pros and cons. With reform of quotas/voting power on a separate track, the focus here is on the institutional framework through which members express voting power, weaknesses in which are seen by many to have eroded the Fund’s legitimacy and effectiveness, thereby displacing the debate and initiative to outside entities. While an overall reform package would have to include quota shares, the key proposals discussed here aim to: increase political engagement and oversight; enhance Executive Board effectiveness and representation; modify voting rules; better delineate responsibilities; open up management selection; and tackle problems with mandate and institutional culture that limit the issues and approaches taken. Civil society has expressed a range of concerns related to IMF governance, including with regard to accountability at all levels (IMFC, Executive Board, management, and staff), mechanisms for responding to complaints and feedback from the broader public, and transparency. Given the diversity of their interests, and to provide unfiltered access to CSO views, the supplement: Fourth Pillar Recommendations from Civil Society; Preliminary Summary of Principles, Issues and Recommendations; has been prepared by CSO groups.

Download or read book 2010 Reforms and Fifteenth General Review of Quotas written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: