The Fostering of Law Reform by International Financial Institutions

Over the past several decades law reform has moved from the periphery of international financial institutions (IFIs) activity to being incorporated into the strategies, policies and implementation modalities of several of the major IFIs. This article tracks this evolution and explains the initial reticence and the reasons for the change of heart. It explores how IFIs have come to view their law reform mandate in holistic development terms and how that reform is delivered. The article contrasts law reform as conceived by IFIs with international and national conceptions. It concludes by asking whether IFI efforts to build state capacity would be enhanced by fostering law commissions in developing states.