TRANSPARENCY OF THE UK GOVERNMENT'S
POSITION TOWARDS THE IMF
23. To enhance transparency, we recommend that
the UK Government disclose further information on the Executive
Director's dealing with the Executive Board, and its views of
recently published IEO reports. We further recommend that the
UK Government report on its view of the surveillance remit of
the IMF, prior to this being set by the IMFC, to allow discussion
of this view before it is put forward at the IMFC. (Paragraph
The Government welcomes the Committee's recommendations.
We are committed to greater transparency by the IMF and about
the UK's relations with the IMF, including through the Government's
Annual Report to Parliament on the UK and the IMF. The Government
will consider how to improve further the information it publishes
on positions taken by the UK at the Executive Board, including
on reports by the IEO.
Discussions are ongoing at the IMF and among members
on the structure and process by which the surveillance remit will
be set by the IMFC. The Government's interventions in that debate
will emphasise the need for the remit-setting process to allow
opportunities for a wider discussion of surveillance before it
is finalised at the IMFC. We will be setting out our views on
the remit in the next UK Annual Report to Parliament.
20 November 2006