Treasury Committee Press Notice No. 13

Session 2005-06 13 December 2005

Globalisation: The role of the IMF

The Treasury Committee will undertake an inquiry into Globalisation: The role of the IMF. As part of this inquiry the Committee will consider in particular:

1. The impact of globalisation on the current and future roles of the IMF;

2.  The UK perspective on the IMF's strategic review;

3. Current UK and European policy towards the IMF;

4. The governance and management of the IMF; and

5. The UK's financial relationship with the IMF and IMF funding arrangements.

The Committee does not expect to consider directly:

• IMF surveillance programmes for particular countries; or

• Wider 'globalisation' issues.

However, the Committee expects to undertake a wider inquiry into globalisation, focused on the impact of globalisation on the UK economy, later in 2006. A separate press notice and request for evidence for  that wider inquiry is expected be published in February 2006. The Committee is not accepting evidence in relation to that wider inquiry at this stage.

Request for evidence


The Committee wishes to receive written evidence for its inquiry into Globalisation : The role of the IMF by Wednesday 18 January focusing on any or all of the five broad areas identified above. The ensuing list of issues within each of these areas is intended to assist those preparing evidence, but is not intended to be comprehensive.

Further guidance on scope of inquiry

1.  The impact of globalisation on the current and future roles of the IMF

• The current and future activities of the IMF relevant to globalisation

• The prospects for reform of the IMF and the appropriateness of its roles in future

2. The UK perspective on the IMF's strategic review

• The UK perspective on the appropriateness of the proposals made in The Managing Director's Report On the Fund's Medium Term Strategy, which was published on 15 September 2005

• The importance of globalisation to the IMF's medium term strategy

3. Current UK and European policy towards the IMF

• The role of the UK in the IMF reform process

• The case for co-ordination of European policy towards the IMF

4. The governance and management of the IMF

• Voting arrangements and the need for reform

• IMF management and spending frameworks

• Transparency of IMF decisions and operations, and the IMF's communication with members

• The role of the Executive Board

5. The UK's financial relationship with the IMF and IMF funding arrangements

• The costs and benefits of UK membership of the IMF

• The appropriateness and sustainability of the IMF's funding arrangements


Written evidence should be in Word or rich text format and sent by e-mail to [email protected] The body of the e-mail must include a contact name, telephone number and postal address. The e-mail should also make clear who the submission is from.  The deadline is 3.00pm on Wednesday 18 January 2006.

Submissions should be in the format of a self-contained memorandum and should not be of undue length. Paragraphs should be numbered for ease of reference, and the document must include an executive summary, ideally no more than one page long.

Committees make public much of the evidence they receive during inquiries. If you do not wish your submission to be published, you must clearly say so. If you wish to include private or confidential information in your submission to the Committee, please contact the Clerk of the Committee to discuss this. Please bear in mind that Committees are not able to investigate individual cases.

Personal information, such as address and contact details, should be provided separately from the body of your submission. You should be aware that there may be circumstances in which the House of Commons will be required to communicate information to third parties on request, in order to comply with its obligations under the Freedom of Information Act 2000.

Submissions should be original work, not previously published or circulated elsewhere. Once submitted, no public use should be made of the submission unless you have first obtained permission from the Clerk of the Committee.

The Treasury Committee is a Select Committee of the House of Commons, appointed to examine the expenditure, administration and policy of the Treasury, HM Revenue and Customs and associated public bodies. All Members of the Committee are Members of the Sub-Committee.

Rt Hon John McFall (Chairman), L, West Dunbartonshire
Lorely Burt, Lib Dem, Solihull
Jim Cousins, L, Newcastle upon Tyne Central
Angela Eagle, L, Wallasey
Mr Michael Fallon, C, Sevenoaks (Sub-Committee Chairman)
Damian Green, C, Ashford
Ms Sally Keeble, L, Northampton North
Susan Kramer, Lib Dem, Richmond Park
Mr Andrew Love, L, Edmonton
Kerry McCarthy, L, Bristol East
Mr George Mudie, L, Leeds East
Mr David Ruffley, C, Bury St Edmunds
Mr Mark Todd, L, South Derbyshire
Peter Viggers, C, Gosport