IMF Governance-Summary of Issues and Reform Options

Policy Papers, July 1, 2009

Source details

Summarizes the main governance challenges and reform options facing the IMF, drawing together analysis and reform proposals in the reports of the Eminent Persons Group (headed by Trevor Manuel), the IEO, and other recent work on Fund governance.
Exercises judgment in selecting key issues and proposals and in laying out some of the pros and cons to avoid producing a laundry list.
With reform of quotas/voting power on a separate track, focuses on the institutional framework through which members express voting power, since weaknesses in that framework are seen by many to have eroded the Fund’s legitimacy and effectiveness and displaced debate and initiative to outside entities.
Notes that while an overall reform package would have to include quota shares, the key proposals discussed aim to:
- increase political engagement and oversight;
- enhance Executive Board effectiveness and representation;
- modify voting rules;
- better delineate responsibilities;
- open up management selection;
- tackle problems with mandate and institutional culture that limit the issues and approaches taken.

Civil society has expressed a range of concerns related to IMF governance, including with regard to accountability at all levels (IMFC, Executive Board, management, and staff), mechanisms for responding to complaints and feedback from the broader public, and transparency.
To provide unfiltered access to CSO views, the supplement "Fourth Pillar Recommendations from Civil Society; Preliminary Summary of Principles, Issues and Recommendations" has been prepared by CSO groups.

Title: IMF Governance-Summary of Issues and Reform Options
Publication date shown: July 1, 2009
Preview citation format provided: IMF Governance-Summary of Issues and Reform Options, (USA: International Monetary Fund, 0) accessed 9/18/2026
Subjects listed: Board of Governors, Exchange rate policy surveillance, Executive Board, Fund administration, Fund policies, Fund role, Governance, International Monetary and Financial Committee, Managing Director role, Multilateral surveillance, Staff recruitment

Source: IMF Governance-Summary of Issues and Reform Options (web landing page), July 1, 2009; accessed 9/18/2026.

IMF Governance—Summary of Issues and Reform Options; IMF Policy Paper; July 1, 2009
- IMF Governance—Summary of Issues and Reform Options; IMF Policy Paper; July 1, 2009 (Markdown version)
- IMF Governance—Summary of Issues and Reform Options; IMF Policy Paper; July 1, 2009 (PDF)