Don’t suppress the fund’s board, allow it to function instead
Sir, Charles Wyplosz asks “Why not suppress the International Monetary Fund’s board altogether?” (December 27) and he is wrong. What you need to achieve though, and here I speak as a former Executive Director of the World Bank, a quite similar institution, is that the board has a chance to effectively perform its functions. Currently the board is literarily drowned in mind-boggling thousands of documents on thousands of issues. The day the management of the Bank and the Fund has to report on what they consider the best ten and the worst ten projects or programs, that day the board can really start working on what they should, instead of muddling away and diluting all of their voice on the grayish middle spectrum. What is stopping this from happening? The fact is that a list of the ten best and the ten worst is also an immensely effective tool for holding the management accountable.
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