International Financial Institutions and International Law

Title

International Financial Institutions and International Law

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Publication Date

9-23-2010

Abstract

To whom are international financial organizations accountable? This unusual book asks not only this searching question, but also examines the extent to which accountability is honoured – or evaded – by the International Monetary Fund, the World Bank Group, and the regional development banks (collectively the international financial institutions, or IFIs).

The fundamental recognition in this book is that the issue of what international legal principles are applicable to the operations of the IFIs is an important topic that would benefit from more rigorous study. Twelve deeply committed contributors – whose work spans the academic, policy, and activist spectrum – suggest that a better understanding of these legal issues could help both the organizations and their Member States structure their transactions in ways that are more compatible with their developmental objectives and their international responsibilities.

Five essays set out the general principles of international law that are applicable to the IFIs and consider how these are or should be evolving to produce IFIs that are respectful subjects of international law and accountable to all relevant stakeholders for their compliance with international law. Six more focus on selected aspects of the IFIs’ operations that both raise important and challenging international legal issues and that have substantial impacts on both the different stakeholders in the operations of the IFIs, and on the sustainability and success of the operations. Introductory and concluding essays frame the volume.

ISBN

9789041128812

Publisher

Kluwer Law International

International Financial Institutions and International Law

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