| Paul O'Neill | ||||||
The IMF is making changes to pacify the Bush administration after new US treasury secretary, Paul O'Neill, sounded a note of scepticism about the role of supranational organizations in the capital markets. O'Neill stated on February 15 that he attaches particular priority to a "transparent and accountable" IMF. O'Neill sees the IMF's role as one of a watchdog in the markets, alerting governments to growing problems before they fully develop.
On the same day, the IMF established a section on its website dedicated to financial disclosure, staff ethics and dispute resolution. In this apparent attempt to reposition itself with the values of the new US administration, the IMF says the website is "part of the IMF's continuing commitment to enhanced transparency in its operations."
The IMF is clearly worried by comments that O'Neill has made.