Central Banking

Internal audit pans IMF governance

The Independent Evaluation office (IEO), the internal audit unit of the International Monetary Fund (IMF) has published a strongly critical report on the Fund's governance and called for "major changes".

Main recommendations of the report, published on 28 May, are for reorientation of the executive board away from operational activities to a more supervisory and strategic role. The report also calls a more substantial engagement by ministers of member nations in the way the reforms are carried

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