WASHINGTON DC: The International Monetary Fund (IMF) is seeking a
PR agency to conduct a global perceptions audit. This follows criticism
in the past year of its role in bailing out the troubled economies of
South-East Asia and Russia.
The IMF is understood to have invited agencies including Hill and
Knowlton, Porter Novelli International, Edelman PR Worldwide and Young
and Rubicam-owned research consultancy Wirthlin to pitch for the
account, which is likely to be awarded in the early autumn.
A spokesman for the IMF declined to disclose details of the ongoing
search for an agency, saying: ’It is still a matter for
The IMF’s remit is to supervise the world’s monetary system and to make
loans and provide technical assistance to any of its 182 member
countries experiencing financial difficulties. Its members’
contributions account for 75 per cent of its funds - USdollars 195
billion annually, the largest contributor being the US.
This year, the organisation provided substantial financial aid packages
to South-East Asian countries affected by the regional economic
It also accorded an dollars 11.2 billion package to Russia in support of
its economic reform programme in July.
During the same period, the IMF’s role has come under fire from
development charities, which have argued for greater action to reduce
world poverty, and member governments, some of which have voiced concern
over proposed increases in contributions to the fund.