By James Boughton, IMF Historian
(Version in Español)
The year 2010 was—finally—the year of IMF reform. Dominique Strauss-Kahn, the IMF’s Managing Director, did not exaggerate when he asserted that the agreements of 2010 were “the most important reform in the governance of the institution since its creation.” What will happen now, and why is it so important?
Three major changes have been agreed to. Each one is a major reform and the culmination of years of work. Each one will be difficult to make effective. Each one should prove to be a blessing, but only if it is well implemented. (more…)
Filed under: Advanced Economies, Africa, Asia, Emerging Markets, Europe, Global Governance, Globalization, International Monetary Fund, Latin America, Low-income countries, Multilateral Cooperation | Tagged: Boughton, crisis prevention, IMF borrowing, IMF reform, MD selection | 2 Comments »