Press Release No. 22/22

External Panel to Follow Up Work on IMF’s Institutional Safeguards

February 4, 2022

Washington, D.C.: As part of the previously announced ongoing review of institutional safeguards, the International Monetary Fund’s (IMF) management, with input from the IMF Executive Board Steering Group on Institutional Safeguards, has appointed an external and independent panel of high-level experts as part of the assessment of the Fund’s internal dispute resolution system. The panel, led by former Bundesbank President Jens Weidmann, is comprised of leading experts in Dispute Resolution Systems (DRS) with experience in international organizations and beyond.

The panel will conduct an independent review with a view to identifying how the Fund can ensure it has in place robust and effective channels for complaint, dissent and accountability. This will include reviewing the framework for addressing complaints applicable to the Managing Director and Executive Board officials.

The external panel will build on the ongoing work of the Executive Board Steering Group and Staff Working Groups--as well previous analysis by the IMF’s Independent Evaluation Office--focused on the Fund’s systems for dissent and accountability, including whistleblower protections.

The external panel aims to finalize its report and recommendations to the Executive Board by end-March 2022.

External Panel members:

• Jens Weidmann — Panel Chair. Economist, former President of the Deutsche Bundesbank and Board member of the European Central Bank. Former Chairman of the Board Bank for International Settlements, Former Economic Advisor to Germany’s Chancellor Merkel and her G7- as well as G20-Sherpa.

• Susan Raines — Panel Member. Professor and Associate Director, School of Conflict Management, Peacebuilding & Development, Kennesaw State University (Georgia, USA).

• Olufemi Elias — Panel Member. Judge, Islamic Development Bank Administrative Tribunal; Visiting Professor in International Law, Queen Mary University of London; former Judge for Staff Appeals, Special Tribunal for Lebanon; former Executive Secretary, World Bank Administrative Tribunal.

• Ruben Lamdany — Advisor to the Panel. Former deputy director of the IMF’s Independent Evaluation Office and Director of the World Bank Institute.