§286ll Fund policy changes

Summary

Tell the U.S. Executive Director at the Fund to push, in program talks and in quota talks, for changes that put poverty reduction, social progress, and the environment into the Fund’s work. The Fund should require and use Policy Framework Papers for countries that borrow and also get Bank or IDA loans, and those papers must name the main poverty, economic, and social actions needed and when they will happen. The Fund should consider a borrower’s commitment to those actions when giving money, work with the World Bank to check if the actions actually help, and fold environmental concerns into all programs. The Fund should also support creating national accounts that count resource loss, and update reporting systems as those accounting methods are developed. The Fund must do regular audits of its poverty and environmental policy advice to see if goals were met and what social and environmental effects occurred, and make audit findings public when appropriate while protecting confidentiality. The Fund should design reforms that help poor people take part in the economy and create clear rules for public access to documents like Policy Framework Papers and mission reports at suitable times. Each year, the National Advisory Council’s report must say what U.S. officials did to get the Fund to adopt these proposals and how much progress the Fund has made. The Treasury must also tell the U.S. Executive Director to push the Fund to include relevant ministries, national and environmental experts, free‑market experts, and other local representatives from borrowing countries in program design and to report on those efforts.