Civil groups urge more transparency in IMF

The groups said it was time to discard the practice and select the head based on credentials, not nationality.
“The election or appointment of the IMF senior management should be with no restriction as to the nationality of the candidates,” the report said.
The groups said the effectiveness of the IMF’s 24-member executive board had never been evaluated despite its pivotal role in decision making, Reuters reports.
They said member countries should establish a committee with the sole responsibility of reviewing the performance of the board, including periodic independent evaluations.
“About one third of the chairs are held by European countries, thus leaving little room for members from other regions to thoroughly contribute to the deliberations,” the report said.
They also urged the IMF to establish a whistle-blower protection policy for its staff and said the IMF’s watchdog group, the Independent Evaluation Office, should report to finance ministers and not the board.
The groups welcomed recent streamlining of IMF conditions attached to its loans but said more should be done to ensure the Fund’s policy advice to member countries does not hurt the poor.