Abstract

The Interim Committee was established in 1974 with a mandate to oversee the management and continued adaptation of the international monetary system. The Committee collaborated closely with the Executive Board and its work certainly enhanced policy formulation and decision making by the Board. A closer examination of the Committee’s activities, however, suggests that stronger political leadership to improve economic performance and policies, particularly of the industrial countries, and to tackle emerging systemic issues resulting from the globalization of financial markets would have been useful. The Interim Committee was transformed into the IMFC in 1999 with a view to making political oversight more effective in a period of reform of the systemic architecture.

Decision Making, Institutional Oversight, Transparency and Accountability
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