BIS Review 55/2004  1  …while further improving internal governance The evaluation report also shows that there is a need for further discussion on how to enhance internal decision-making and ensure that our representatives in the Executive Board are fully informed about all issues relevant to the decision-making process. Critical decisions are, however, sometimes made outside the Board.
This undermines the ability of the Board to exercise the powers that we as Governors have given them. It also calls into question the accountability of this institution. On top of this, it may weaken the credibility the Fund vitally needs. In this respect the clarity that the exceptional access criteria bring to decision-making is most welcome.