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Ethics office and code of conductThe IMF also has its own Ethics Office. Established as an independent arm of the Fund in 2000, the Office provides advice and guidance to IMF staff, and undertakes investigations into allegations of unethical behavior and misconduct. An Integrity Hotline?a 24-hour whistleblowing system?was launched in 2008. The Ethics Office publishes an Annual Report, which is published on the IMF?s website. Upon joining the IMF, all staff sign an agreement that commits them to adhere to the IMF?s ethics rules, which include a Code of Conduct and rules for financial disclosure. A separate Code of Conduct applies to IMF Executive Directors. The IMF?s Executive Board has also set out Applicable Standards of Conduct for the Managing Director. Transparency The IMF also encourages its member countries to be as open as possible about their economic policies. Greater openness encourages public discussion of economic policy, enhances the accountability of policymakers, and facilitates the functioning of financial markets. To that effect, the IMF's Executive Board has adopted a transparency policy to encourage publication of member countries' policies and data. This policy designates the publication status of most categories of Board documents as "voluntary but presumed." This means that publication requires the member's explicit consent but is expected to take place within 30 days following the Board discussion. In taking these steps to enhance transparency, the Executive Board has had to consider how to balance the IMF's responsibility to oversee the international monetary system with its role as a confidential advisor to its members. The IMF regularly reviews its transparency policy.
5. Organization & Finances The IMF has a management team and 17 departments that carry out its country, policy, analytical, and technical work. One department is charged with managing the IMF's resources. This section also explains where the IMF gets its resources and how they are used.
? Management ? Staff of international civil servants ? Quotas ? Special Drawing Rights ? Gold ? Borrowing arrangements Management Highlights of this section: ? Managing Director: Duties and Selection ? The Current Management Team The IMF is led by a Managing Director, who is head of the staff and Chairman of the Executive Board. The Managing Director is assisted by a First Deputy Managing Director and three other Deputy Managing Directors. The Management team oversees the work of the staff and maintains high-level contacts with member governments, the media, non-governmental organizations, think tanks, and other institutions. Managing Director: Duties and selection According to the IMF's Articles of Agreement, the Managing Director "shall be chief of the operating staff of the Fund and shall conduct, under the direction of the Executive Board, the ordinary business of the Fund. Subject to the general control of the Executive Board, he shall be responsible for the organization, appointment, and dismissal of the staff of the Fund." The IMF's Executive Board is responsible for selecting the Managing Director. Any Executive Director may submit a nomination for the position, consistent with past practice. When more than one candidate is nominated, as has been the case in recent years, the Executive Board aims to reach a decision by consensus. Date: 2016-06-12; view: 200
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