Reforming the IMF
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Reforming the IMF
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https://www.pcf-p.com/projects/international-monetary-fund-headquarters-2/
In this podcast, Ajay Chhibber draws on his paper on reforming the Bretton Woods Institutions and focuses on the IMF. Some of the issues that he highlights are that the Bretton Woods institutions are no longer fit for purpose to meet today’s global challenges because their governance structures remain more or less what was created at the end of World War II, and their size and mandate have made them less able to address today’s challenges. They are now seen primarily as institutions to help deal with problems in the developing world, and they are struggling to even do that. What is needed today are genuinely global institutions that address global problems.
The IMF is accused of having failed at two of its major functions—to warn the world of impending global crises and do adequate surveillance of the global monetary and financial system.
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