2551. Reform of the International Monetary Fund
- Author:
- Peter B. Kenen
- Publication Date:
- 05-2007
- Content Type:
- Working Paper
- Institution:
- Council on Foreign Relations
- Abstract:
- The International Monetary Fund (IMF) is undertaking a wide-ranging reform of its governance and operations within a framework proposed by Rodrigo de Rato, its managing director. The proposed reform is inspired in large part by the emergence of large middle-income developing countries such as China and India, which now play a major role in the world economy but are underrepresented in the Fund as the low-income developing countries. The proposed reform is also inspired by the need to simplify the Fund's internal practices and focus more intensively on its basic mandate: to “oversee the development of the international monetary system in order to ensure its effective operation.”
- Topic:
- Development, Economics, and International Trade and Finance
- Political Geography:
- China and India