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eBook details

• Title: Holding Intergovernmental Institutions to Account (Achieving Global Economic Justice)
• Author : Ethics & International Affairs
• Release Date : January 01, 2003
• Genre: Politics & Current Events,Books,
• Pages : * pages
• Size : 281 KB

Description

Concerns about order and justice in the globalizing world economy have often been addressed to international organizations. Protesters gather in large numbers around meetings of the International Monetary Fund (IMF) and the World Bank in order to highlight perceived injustices wrought by these organizations. More and more, these demonstrations have called for greater accountability. Do the arguments of these protesters have any merit? The IMF and World Bank were originally designed to stabilize exchange rates and channel investment for new projects in war-torn and developing countries. But their jurisdiction has subsequently expanded to include some of the most basic decisions about the budget and economic structure of a large number of the world's countries. Yet while their responsibilities have increased, their accountability has not. Borrowing countries have only token representation within the decision-making bodies of these organizations, and little real power. The decisions of these organizations are not subject to public review, and in most cases the processes leading to them are not even made public. The procedures of these institutions are not, however, set in stone, and it is time for them to be made accountable in ways that more adequately reflect their increased purview over the world's national economies.

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