[stop-imf] IMF looks to broader base of support for restructuring programs

[Robert Weissman]

IMF looks to broader base of support for restructuring programs
SINGAPORE, Jan 13 (AFP) - The International Monetary Fund (IMF) will secure
broader support for its programs from various sectors of society to make
them more effective and sucessful, an IMF official said Thursday.
"Clearly, we think that programs work better and quicker if there is this
broader sense of ownership," said Thomas Dawson, IMF director for external
relations.
"When a budget is drawn up, and targets are agreed to, an assessment has to
be made as to its viability," he told a gathering of foreign correspondents
here.
This is why "fund missions do regularly meet with elements in the
opposition, with elements in civil society, labor unions in particular to
... make a judgment of what is doable and achieveable," he added.
He cited the success of the IMF's program in South Korea, attributing it to
that country's leadership and its willingness to support financial
restructuring.
Dawson was responding to a question on whether IMF programs, especially for
the ailing Asian economies during the financial crisis, could have been more
effective if it had gained more support from sectors of society apart from
government.
The IMF spearheaded rescue packages worth billions of dollars for the
economies of Indonesia, South Korea and Thailand in exchange for their
adherence to reform measures, some of which were met with widespread
protest.
Dawson said his trip through Japan and Singapore were among a series of
visits by IMF officials to gain feedback on the Fund's programs, including
from the media, opposition groups and labor unions.
The IMF is at the forefront of efforts to devise new financial architecture
that can help prevent a repeat of the financial crisis which plunged most of
Asia into recession in 1998.
Dawson expected speculation to grow on who would be the successor to IMF
chief Michel Camdessus in the run to the Group of Seven finance ministers'
meeting in Tokyo on January 22.
Camdessus is to step down in February after nearly 13 years in office.
"There's a G7 ministers' meeting in about 10 days in Tokyo so I suspect
speculation will increase," said Dawson, noting a "growing rather than
shrinking list" of candidates for the top position.
The G7 is made up of Britain, Canada, France, Germany, Italy, Japan, and the
United States.