Bretton Woods Non-Commission

 

Posts Tagged: Quota Formula

 

IMF Governance Reform Committee Report Leaves Much to the Imagination

April 6, 2009

Posted by in Double Majorities at the World Bank and IMF—for Legitimacy and Effectiveness, Governance of the Bretton Woods Sisters: Making Progress on the Agenda, Uncategorized Tags: , , , ,

Suddenly the IMF is very much in the news. The G-20 Summit agreed last week to large increases in resources to enable the Fund to respond to the global crisis. And the week before the IMF Board approved radical changes in access, pricing and conditionality for IMF borrowers, making IMF loans and insurance (precautionary loans immensely more attractive for countries like Brazil and Mexico. Already Mexico has come forward to request access to the new Flexible Credit Line. The new lending rules show that the IMF bureaucracy is finally beginning to respond effectively to reality of responsible macro management in many emerging market economies. Read More…

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Governance of the Bretton Woods Sisters: Making Progress on the Agenda*

March 4, 2009

Posted by in Governance of the Bretton Woods Sisters: Making Progress on the Agenda Tags: , , , , , , , , , , ,

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The International Monetary Fund (IMF) and the World Bank are intergovernmental institutions. They are political in every sense of that word, from their structure to their culture. They are owned and directed by their member governments. Governments are political by construction. Consequently, we in the private sector—in think tanks, in non-governmental organizations, or as private citizens—often are frustrated because these institutions are, and should be, principally responsible to governments and only through them to us, the interested and concerned general public, even in cases where the responsiveness of member governments leaves a great deal to be desired. Read More…

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