IISD : 52nd Session of the International Tropical Timber Council and the Associated Sessions of its Four Committees
On Friday, ITTC-52 entered its fifth day of work. In the morning, the Council continued discussions regarding the selection of the new ITTO Executive Director (ED). Another vote was held, with no winner. At the request of Producers, a contact group was formed to discuss the principle of rotation in the selection of the ED. Afterward the Committee on Finance and Administration (CFA) continued its deliberations on the proposed revision of ITTO financial rules and procedures, audit standards, and relevant portions of the Staff Regulations and Rules.
In the afternoon, the Council convened to hear pledges to the Special Account and the Bali Partnership Fund (BPF) and the Report of the Panel on Sub-Account B of the BPF. The Council also heard a report from the co-facilitators of the contact group on rotation in the appointment of an ED, and agreed that the contact group should draft a decision creating an intersessional working group to develop modalities for the principle. The Council then met in closed session on the legal implications and measures related to ITTO investments that led to the impairment of funds.
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