US Senate Banking Committee calls hearing on oversight of World Bank and IMF

19 May 2004

This follows last week's Foreign Relations Committee hearing on "Combatting Corruption in the MDBs," showing growing interest within the Senate in overseeing International Financial Institutions.

The Senate Committee on Banking, Housing, and Urban Affairs, chaired by Republican Senator Richard Shelby, held a hearing on "Congressional Oversight of the World Bank and the IMF" on May 19, with witnesses from the U.S. Treasury Department, Congressional Budget Office, and academics such as Allan Meltzer and C. Fred Bergsten testifying.

Witnesses at this hearing were the following:

• Honorable John B. Taylor, Under Secretary for International Affairs, Department of the Treasury
• Dr. Douglas Holtz-Eakin, Director, Congressional Budget Office
• Dr. C. Fred Bergsten, Director, Institute for International Economics
• Dr. Allan H. Meltzer, Professor of Political Economy, Carnegie Mellon University

• Links to statements given by witnesses, May 19, 2004 (Banking, Housing, Urban Affairs Committee website)

Senate Committee on Foreign Relations Hearing (May 13): "Combating Corruption in the MDBs"

Additionally, on May 13 the Senate Foreign Relations Committee held a hearing on "Combatting Corruption in the MDBs." Link to more information on this hearing, including links to written testimonies on BIC's website:

• BIC Executive Director testifies before Senate on MDB corruption