IMF boosts financial surveillance funding

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Photo: Flickr/freeimage4life

The International Monetary Fund has allocated an extra $2 million to its monetary and capital markets department despite not all directors being in favour of the change, according to a new report.

In a report published on October 31, the IMF responded to recommendations made by the fund’s Independent Evaluation Office (IEO) with regard to financial surveillance.

The 6% increase in budget for the department was in response to recommendations the fund “devotes significant additional resources”

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