(April 13 – 17:30 ET) – The International Monetary Fund has decided to establish an independent evaluation office in an effort to increase transparency.
The office will assess the IMF’s operations, policies and programs to ensure their effectiveness. The move is part of a push to encourage more openess at the IMF and among international financial institutions.
The federal department of finance lauded the move. “The establishment of an independent evaluation office will increase the transparency and accountability of the IMF,” said finance minister Paul Martin, “I am pleased that the Fund is listening to its shareholders and others who have an active interest in the institution’s activities.”
The new unit’s mandate, structure and operations are to be determined by the time of the IMF-World Bank Annual Meetings in September.
-IE Staff