Structural Adjustment for the IMF : Options for Reforming the IMF's Governance Structure

Three aspects of the IMF's governance structure need to be adjusted so that it can operate effectively as an institution of global governance in the new global architecture. These are: representation and power in the IMF's governing bodies; transparency and accountability of the Board; and transparency and accountability of the staff and management. Action must be taken in all three areas. Whilst some of the suggested recommendations will have to be implemented over the long-term, a number of the suggestions could be carried out more quickly. Non of these reforms will be sufficient by themselves to ensure effective governance. Efforts to increase voice and vote must be taken together as a package, and endeed its unlikely that they would'nt be.