Although the IMF is accountable, above all, to the governments of its 182 member countries that determine its policies and operations and provide its funding, inter-changes between the IMF and civil society have grown considerably in the 1990s. This budding dialogue has much potential, for the development of relationships between the IMF and civil society can both enhance the effectiveness of IMF programs and encourage democratic governance.
In what will be a unique gathering in Istanbul, Turkey, the IMF and World Bank annual meetings will bring together finance ministers, central bankers, and other top officials and provide a forum for policymakers to meet with civil society organizations and the private sector. The effort to involve civil society organizations in IMF governance reform follows calls from civil society for a voice in the reform process.
IMF’s engagement should not be understated. The Fund’s efforts will allow civil society organizations to provide channels through which stakeholders may voice their views on the IMF and have those opinions relayed accordingly. Management and staff now regularly speak of “ownership,” “transparency,” “good governance,” and so forth. This new vocabulary involves more than a public relations exercise. There is widespread recognition in today’s IMF of the existence of civil society and of its significance for policy. This input can help IMF officials gauge the political viability of proposed measures or programs. Such relations may reverberate throughout society to have a democratizing effect on the broader political scene. For instance, civil society groups that pursue a dialogue with the IMF may also seek greater openness and debate on other subjects, such as corruption or business. In addition, by gaining recognition through their dialogue with the IMF, civil society organizations can become empowered to represent their constituencies in other forums.
Civil society organizations have become an important player during the past quarter century, and have influenced policies on a broad range of issues including economic matters at the core of the work of not only the IMF, but CIPE as well. Such groups are instrumental in building an institutional foundation for economic growth and democratic stability.
Published Date: July 20, 2009