Recent years have seen calls for increased accountability in the International Monetary Fund (IMF). The IMF has recently taken some modest steps in the areas of evaluation and audit, but the organization is generally perceived to be lacking in its adaptation to the new policy and governance frameworks demanded by increasing globalization. In relations across the Executive Board, IMF staff, the governments it serves, and civil society, the Fund has avoided its proper share of responsibility for failed policy prescriptions and has little incentive to adapt or improve its operations.
Developing or strengthening a poverty reduction strategy is on the agenda of about 70 low-income countries, as a requirement for receiving debt relief under the enhanced HIPC (Heavily Indebted Poor Countries) Initiative and concessional assistance from the World Bank and International Monetary Fund (IMF) |
