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International Monetary Fund. Independent Evaluation Office

Abstract

The IEO completed an evaluation of the governance of the IMF in 2008 when the stability of the international monetary system was under threat and the relevance and legitimacy of the IMF was in question. The 2008 evaluation assessed the extent to which IMF governance was effective and efficient, and whether it provided sufficient accountability and channels for stakeholder voices to be heard. It concluded that effectiveness had been the strongest aspect of the Fund’s governance while accountability and voice had been the weakest, with the potential to undermine legitimacy and effectiveness if not addressed.

International Monetary Fund. African Dept.

Abstract

This chapter was prepared by a team led by Papa N’Diaye, coordinated by Nkunde Mwase and composed of Seung Mo Choi, Jesus Gonzalez-Garcia, Cleary Haines, Andresa Lagerborg, Miguel Pereira Mendes, and Torsten Wezel.

International Monetary Fund. African Dept.

Abstract

This chapter was prepared by a team led by Papa N’Diaye, coordinated by Nkunde Mwase and composed of Seung Mo Choi, Jesus Gonzalez-Garcia, Cleary Haines, Andresa Lagerborg, Miguel Pereira Mendes, and Torsten Wezel.

International Monetary Fund. Independent Evaluation Office

Abstract

The 2008 evaluation assessed the degree to which Fund governance was effective and efficient, and whether it provided sufficient accountability and channels for stakeholders to have their views heard. It focused on institutional structures as well as on the formal and informal relationships among the Fund’s main governance bodies: the Executive Board (“Board”), Management (the Managing Director and Deputy Managing Directors), and the International Monetary and Financial Committee (IMFC). Overall, it found that effectiveness had been the strongest aspect of Fund governance, which allowed for quick and consistent action particularly in times of systemic crisis. On the other hand, accountability and voice had been the weakest aspects, which the evaluation considered would likely undermine legitimacy and effectiveness over the medium term if left unaddressed.

International Monetary Fund. African Dept.

Abstract

This chapter was prepared by a team led by Siddharth Kothari and comprising Xiangming Fang, Lisa Kolovich, Cameron McLoughlin, Monique Newiak, Rasmane Ouedraogo, Brooke Tenison, Jiaxiong Yao, and Mustafa Yenice, under the supervision of Mahvash Qureshi and David Robinson.

International Monetary Fund. African Dept.

Abstract

This chapter was prepared by a team led by Siddharth Kothari and comprising Xiangming Fang, Lisa Kolovich, Cameron McLoughlin, Monique Newiak, Rasmane Ouedraogo, Brooke Tenison, Jiaxiong Yao, and Mustafa Yenice, under the supervision of Mahvash Qureshi and David Robinson.