In mid February high-level meetings were held in Washington DC to examine proposals to reform the governance of the World Bank and IMF. The next major discussions will be at the Bank/Fund Spring Meetings in Washington on 12-13 April. Some limited capacity-building measures for Southern Executive Directors may be announced, but there has been no progress on more significant reforms. A serious effort to improve Southern country voice at the institutions would require going far beyond capacity-building to change the composition, voting shares and transparency of the Bank/Fund Boards.