Saving IMF's Money from Corruption

Date: February 27, 2019

To: Christine Lagarde

Managing Director & Chairwoman IMF

To Whom Else It May Concern International Monetary Fund

Chairwoman Lagarde,

I heard part of an interview that you had done with for Marketplace pod-cast dealing with monetary policy. In the interview you mentioned the IMF’s effort to deal with corruption as part of its mission. That corruption and abuse is a troubling issue not just faced by the IMF but which occurs for all international governments that engage in trade, business dealings and assistance efforts of various kinds. The United States is not exempt from having its financial resources being abused by entities that receive governmental funding, business relationships and other financial transactions.

This raises the clear necessity to act. I assume that the IMF has efforts to combat abuse and corruption, yet as you stated corruption persists. I completely support any IMF efforts to confront and stop the abuse of the system. However, as I’m sure you are aware there is no single solution to corruption or abuse. Corruption will never cease no matter what measures are put in place to prevent and safeguard against it because it’s human nature for some to try to game the system for their own benefit. It is in this regard that I believe there is a method the IMF could use to prevent and reduce fraud and abuses that still exist, and to curtail more that will occur without additional techniques to prevent it. The method would be extendable to general governmental and international financial dealings to reduce the corruption and abuse that occurs beyond the IMF’s reach and jurisdiction.

Therefore, to the extend that you see abuse and corruption diminishing or harming IMF efforts and the goals and objectives that the IMF mission is striving to attain, I have a question. My question to you is would the IMF be interested in a methodology making attempts at abuse and corruption more difficult to undertake and more easy to identify and respond to? If not, then again, I wish you success in your endeavors. If, however, you or anyone at the IMF is at least interested in how financial abuse or corruption could be beneficially dealt with then I would be pleased to discuss an approach that would work.

I am not associated with any company, government or group. The method is strictly of my own inception. I can be contacted via the means provided below.

Respectfully,