Question

What is your view on this? Please see below.

The board’s goal is targeted at improving and establishing standards in terms of usability for all users and stakeholders combined with the effort of resolving government transparency and accountability. The world of finance and technology are complex and constantly evolving. In order for standards to remain relevant, we must keep up with that pace. Standards that have become outdated need to be reexamined; those standards are fundamentally interconnected with other standards creating potential implementation issues, to which, must also be addressed, in a timely manner, in an effort to limit confusion.

Answer 1

Countries with high levels of corruption, or which lack effective rule of law or accountability in government are more susceptible to conflict and social unrest that than other developing countries. The persistence of corruption adversely impacts the delivery of health, education and other social benefits, and is a contributing factor to the persistence of poverty and other inequalities.

In its Corruption Perceptions Index issued in January 2017, Transparency International (TI) found that over two-thirds of the 176 countries and territories surveyed scored below the midpoint of a scale of 0 (highly corrupt) to 100 (very clean), with the global average score a mere 43, indicating endemic corruption in a country's public sector. Despite some recent successes in fighting corruption, in countries such as Brazil and Ukraine, as well as the exposure of illicit financial interests as brought out by the Panama papers, it is clear much more work is to be done.

The process of governing is most legitimate when it incorporates democratic principles such as transparency, pluralism, citizen involvement in decision-making, representation, and accountability. Civil society, the media, and the private sector, have roles and responsibilities in addition to those of the government.

Citizens lose confidence in a government that is unable to deliver basic services; therefore, the degree to which a government is able to carry out its functions at any level can often determine a country's ability to sustain democratic reforms and provide for the well-being of its citizens.

The rule of law is also an essential element of democracy. All of the following depend upon accountable governments, fair and accessible application of the law, and respect for international human-rights standards:

• Free and fair political and justice systems
• Protection of human rights
• Vibrant civil society
• Public confidence in the police and the courts
• Security Sector Reform

Transparency and accountability are critical for the efficient functioning of a modern economy and for fostering social well-being. In most societies, many powers are delegated to public authorities. Some assurance must then be provided to the delegators—that is, society at large—that this transfer of power is not only effective, but also not abused. Transparency ensures that information is available that can be used to measure the authorities' performance and to guard against any possible misuse of powers. In that sense, transparency serves to achieve accountability, which means that authorities can be held responsible for their actions. Without transparency and accountability, trust will be lacking between a government and those whom it governs. The result would be social instability and an environment that is less than conducive to economic growth.

In the case of oil-producing countries, these concepts take on even greater importance. Oil wealth creates major opportunities, especially in developing countries. The government—including parliamentarians—plays an important role in managing these opportunities. At what pace should the oil be extracted? How should the proceeds be used? Which investments will best address the country's development needs? The decisions made on such issues can have a long-lasting impact, and can affect the well-being of today's as well as future generations in a society.

I think it is clear, then, that transparency and accountability benefits everyone—the IMF, its member countries, and their populations. With this workshop, we hope to advance understanding and acceptance of good practices in transparency and accountability. Given the increasing role of parliaments in economic policymaking, engaging parliamentarians on this issue is especially important. It helps to promote awareness of the importance of good governance and enhances country ownership of reform efforts. This workshop also provides a valuable opportunity for the Fund to better understand the specific challenges faced by CEMAC countries and the ways in which you are grappling with them. Such an understanding is critical to our ability to act as a global advisor and to bring to bear the experiences of the membership in our advice.

Historically, the development of environmental standards was influenced by two competing ideologies: ecocentrism and anthropocentrism. Ecocentrism frames the environment as having an intrinsic value divorced from the human utility, while anthropocentrism frames the environment as only having value if it helps humanity survive. This has led to problems in establishing standards.

Within the past few decades, the sensibility of people towards the topic of environmentalism has increased. In turn, the demand for protecting the environment has risen. This movement towards environmentalism was likely caused by the increased understanding of medicine and science, as well as advances in the measurement of factors contributing to environmental damage. This improved measurement allows scientists to further understand the impact of human-caused environmental destruction on human health and the biodiversity which composes the natural environment. These developments in science have been fundamental for the setting of environmental standards.

Environmental standards often define the desired state (e.g. the pH of a lake should be between 6.5 and 7.5) or limit alterations (e.g., no more than 50% of the natural forest may be damaged). Statistical methods are used to determine the specific states and limits the enforceable environmental standard.

Where environmental issues are concerned, uncertainties should always be taken into consideration. The first step to developing a standard is the evaluation of the specific risk. The expected value of the occurrence of the risk must be calculated. Then, possible damage should be classified. Three different types of damages exist - changes due to physiochemical environmental damages, ecological damages in plants and animals, and damages to human health.