Front Matter

Front Matter

Author(s):
International Monetary Fund
Published Date:
August 2002
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    Governance of the IMF Decision Making, Institutional Oversight, Transparency, and Accountability

    Leo Van Houtven

    INTERNATIONAL MONETARY FUND

    Washington, D.C.

    2002

    ISBN 1-58906-130-6

    ISSN 0538-8759

    August 2002

    The views expressed in this pamphlet, including any legal aspects, are those of the author and should not be attributed to Executive Directors of the IMF or their national authorities.

    Cover design and typesetting: IMF Graphics Section

    Please send orders to:

    International Monetary Fund, Publication Services

    700 19th Street, N.W., Washington, D.C. 20431, USA

    Tel.: (202) 623-7430 Telefax: (202) 623-7201

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    Internet: http://www.imf.org

    Contents

    Preface

    The author, Leo Van Houtven, is President of the Per Jacobsson Foundation, which was established in honor of the former Managing Director of the IMF (1956-63). The Foundation sponsors lectures in international finance and monetary cooperation in the context of the Annual Meetings of the IMF and, on a number of occasions, of the Bank for International Settlements in Switzerland. The author made his career in the IMF. From 1977 through 1996, he was the Secretary of the IMF and in 1987 he received the additional title of Counsellor to the Managing Director.

    The views expressed in this essay are those of the author and should not be attributed to the IMF. The author continues to benefit greatly from his contacts and discussions with former colleagues on the IMF’s Executive Board and on the staff. He wishes to thank Christian Brachet, Eduard Brau, François Gianviti, Luc Hubloue, Azizali Mohammed, Alexander Mountford, P.R. Narvekar, Barry Newman, and J.J. Polak for their stimulating comments on the essay in progress. The author is responsible for remaining weaknesses. He also wishes to thank Ian McDonald, who edited the text, Marina Primorac, who coordinated the production, and Nabila Salah for her administrative assistance throughout the project.

    List of Abbreviations

    BIS

    Bank for International Settlements

    EMS

    European Monetary System

    ESAF

    Enhanced Structural Adjustment Facility

    DDS

    Data Dissemination Standard

    FSAP

    Financial Sector Assessment Program

    GAB

    General Arrangements to Borrow

    HIPC

    Heavily Indebted Poor Countries

    IAIS

    International Association of Insurance Supervisors

    IBRD

    International Bank for Reconstruction and Development (World Bank)

    IEO

    Independent Evaluation Office

    IMF

    International Monetary Fund

    IMFC

    International Monetary and Financial Committee

    IOSCO

    International Organization of Securities Commissions

    NAB

    New Arrangements to Borrow

    NAFTA

    North American Free Trade Area

    NGO

    Nongovernmental organization

    OECD

    Organization for Economic Development and Cooperation

    PDR

    Policy Development and Review Department

    PFP

    Policy Framework Paper

    PIN

    Public (formerly Press) Information Notice

    PRGF

    Poverty Reduction and Growth Facility

    ROSC

    Report on Observance of Standards and Codes

    SDR

    Special Drawing Right

    SRF

    Supplementary Reserve Facility

    WTO

    World Trade Organization

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