Köhler stresses national ownership of reforms

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The fight against world poverty is "the most immediate and urgent challenge of the twenty-first century," IMF Managing Director Horst Köhler said at the opening of an IMF-World Bank international conference on poverty reduction strategies on January 14 in Washington.He noted that his travels to Africa, Asia, and Latin America early in his tenure had helped him define the IMF's future role in the fight against world poverty.

Developing countries, he stressed, welcomed the IMF's advice, technical assistance, and financial support but believed they themselves had to lead the design of their poverty reduction strategy papers (PRSPs). The IMF has changed, Köhler said, by streamlining conditionality to "make room for true national ownership of reform programs."

Following on the heels of a series of regional workshops last fall (see IMF Survey, January 14), the 31/2 day conference brought together around 200 participants from developing...