Welcome to the Fourth Pillar from Jo Marie

Dear Friends and Colleagues,

Welcome to the “Fourth Pillar”—or Civil Society—online discussion on IMF Governance Reform.  Having a Civil Society Organization coordinate civil society input into an IMF discussion is a new approach for the Fund.  New Rules is committed to as inclusive a process as possible.  We also take the Managing Director, Dominique Strauss-Kahn, at his word, that nothing is taboo, no issue is off the table.

Often, the World Bank and IMF have used the word “governance” to refer to corruption, especially by developing country governments.  In this discussion we will use governance to refer to “how the IMF is governed both formally, that is according to the Articles of Agreement, and in practice, that is, how decisions are actually made, and who influences the outcome.  I will be preparing an outline of topics that I believe are relevant to our discussions.  This outline should not determine the parameters; it should just serve as a tool to help organize the debate.  You are most welcome to introduce additional topics you regard as relevant.

In light of the intense negative impact of the global financial crisis on low income countries, and the continued relationship between the IMF and all developing countries, we especially welcome the participation of all members of civil society from the Global South.

The timeline for this process is very short, so please send your inputs as soon as possible.  And please initiate and participate in debates as often as your time and interests permit.  We want this to be an active, thoughtful, creative, and intelligent conversation that will genuinely contribute to a reformed IMF.

Sincerely,

Jo Marie Griesgraber

Executive Director

jgriesgraber@new-rules.org