Fund seeks its own watchdog

The International Monetary Fund's (IMF) Executive Board has named Ray & Berndstson, a US-based international executive search firm, to identify candidates for the position of Director of the IMF's newly created independent Evaluation Office (EVO).

The firm will be expected to complete its search for candidates by mid-February 2001. This navel-gazing is part of the Fund's work on the "new financial architecture". As a sop to critics of IMF handling of the Asian crisis the G7 asked the Fund.