Brookings: Topics - International Monetary Fund

Sustaining Growth in Sub-Saharan Africa

Thu, 19 Nov 2009 14:00:00 GMT

Event Information:

November 19, 2009, 2:00 PM to 3:30 PM

On November 19, the Africa Growth Initiative at Brookings hosted Antoinette Sayeh, director of the African Department of the International Monetary Fund (IMF), for a discussion on the economic outlook for Africa. The IMF has just released its semi-annual Regional Economic Outlook for Africa which contains findings that indicate sub-Saharan Africa’s economic activity has slowed sharply with the onset of the global financial crisis. As the world economy stages a tentative recovery, what does this mean for the region?

The Global Economic Agenda: Issues Paper for the Washington Roundtable

Sat, 31 Oct 2009 00:00:00 GMT

Following a September 18 roundtable focused on the global economic agenda for the fall of 2009, Domenico Lombardi reflects on discussions at this forum, which served to enhance engagement and exchanges between experts from the U.S. and other G-20 countries on the critical issues to be addressed at these highlevel international gatherings.

Tracking the Global Economic Recovery: Insights on the IMF's New World Economic Outlook

Wed, 21 Oct 2009 00:00:00 GMT

In May 2009, Laurence Chandy, Geoffrey Gertz and Johannes Linn examined the global impact of the financial crisis based on data from the IMF’s April World Economic Outlook (WEO). Following the release of a new WEO database released earlier this month, they appraise their previous assertions and analyze the salient features of the global economic recovery.

Global Macroeconomic Imbalances: G-20 Leaders Must Back up Their Rhetoric with Deeds

Tue, 13 Oct 2009 00:00:00 GMT

The financial crisis has taught us a painful lesson that global macroeconomic imbalances can wreak enormous damage on the world economy. At the G-20 Pittsburgh Summit, leaders committed to a framework that would prevent further damage. Eswar Prasad proposes a Special Drawing Rights scheme that allows G-20 countries to make enforceable policy commitments.

The G-20, the "Istanbul Decisions" and the Way Forward

Thu, 08 Oct 2009 00:00:00 GMT

The fall global economic agenda is well underway with the completion of the G-20 Pittsburgh Summit and the IMF and World Bank Annual Meetings in Istanbul. Kemal Derviş discusses the key themes coming out of these “historic” meetings, highlighting the essential roles of both the informal and formal channels of global economic governance and the way forward after the crisis.

Growth After the Storm? A Longer Run Perspective on the Global Economy

Sun, 04 Oct 2009 00:00:00 GMT

During a lecture at the IMF-World Bank 2009 Annual Meetings, Kemal Derviş discussed global growth prospects following the economic crisis and the role that supply side factors and macroeconomic management can play.

The 0.85 Percent Solution for Low-Income Countries

Thu, 24 Sep 2009 00:00:00 GMT

A topic of discussion at previous G-20 summits, IBRD resources are central to helping poor countries survive this economic crisis. Homi Kharas discusses the importance of making IBRD resources much more widely available to promote development and urges G-20 leaders to continue talks about this issue at the summit in Pittsburgh.

A New International Monetary Fund?

Wed, 23 Sep 2009 00:00:00 GMT

In a recent compilation of commentary for the G-20 Summit in Pittsburgh, Domenico Lombardi discusses conclusions drawn from recent IMF governance reform consultations and states that it is time for the IMF to embrace transparency and accountability, in order to bring its practices into line with those of other international organizations.

Washington Roundtable on the Global Economic Agenda

Fri, 18 Sep 2009 08:30:00 GMT

Event Information:

September 18, 2009, 8:30 AM to 5:45 PM

On September 18, Brookings—jointly with the Asian Development Bank Institute and the Inter-American Development Bank—co-hosted a roundtable focusing on the global economic agenda for the fall of 2009. The roundtable served as a forum to enhance engagement and exchanges between experts from the U.S. and other G-20 countries on the critical issues to be addressed at these highlevel international gatherings.

G-20 Summit: Recovering from the Crisis

Thu, 17 Sep 2009 00:00:00 GMT

On September 24, President Obama will chair his first G-20 Summit in Pittsburgh. With the world economy improving, leaders will now focus their attention on economic recovery and restoring financial stability. Experts from Brookings Global Economy and Development program analyze top issues to be addressed at the summit and provide recommendations on how to effectively overcome global economic and governance challenges to ensure recovery now and to prevent future crises.

IMF Governance Reform and Civil Society

Tue, 08 Sep 2009 00:00:00 GMT

Governance reform at the IMF is one of the most critical tasks facing the institution. In early 2009, the IMF Managing Director, for the first time in the Fund's history, called for global consultations with civil society to gather its input in the current reform process. In a presentation before IMF Executive Directors, Domenico Lombardi shared the main points of the final report of the Fourth Pillar (civil society) consultations on IMF governance reform.

The G20 and Political Capital for the International Financial Institutions

Tue, 07 Jul 2009 00:00:00 GMT

Discounted by many observers only a year ago, the International Financial Instiutions (IFIs) have been bolstered by support of the G20 process. Domenico Lombardi discusses how the G20 can be used as catalyst for reform within international finance.

Can the G8 Lead in IMF Reform?

Thu, 02 Jul 2009 00:00:00 GMT

Domenico Lombardi questions whether the G8 is leading the discussion on critical IMF governance reform and claims that the G20 may be better equipped to mobilize these issues. While the G8 may no longer be the guiding force behind the reform of the Bretton Woods Institutions, Lombardi states that it does provide an informal framework to discuss issues of common responsibility among its members. For instance, the G8 Summit should focus on the declining aid flows to poor countries and fulfilling its previous commitments to aid African growth.

An Education Stimulus for the Developing World

Tue, 23 Jun 2009 00:00:00 GMT

In this economic crisis many low-income countries are forced to cut back on vital investments in education. David Gartner urges that new guidance by Congress to the IMF could make a real difference in giving low-income countries the ability to invest in their own children.

Tracking the Global Financial Crisis: An Analysis of the IMF's World Economic Outlook

Tue, 26 May 2009 00:00:00 GMT

The IMF's flagship publication, the World Economic Outlook (WEO), marks the most extensive effort to measure the health of the global economy since the outbreak of the financial crisis. Analyzing the WEO's projections, the Wolfensohn Center's Laurence Chandy, Geoffrey Gertz and Johannes Linn examine the countries and regions hit worst by the downturn and assess the lasting impact on the global economy.

The IMF’s Outlook for Latin America and the Caribbean

Thu, 21 May 2009 14:00:00 GMT

Event Information:

May 21, 2009, 2:00 PM to 3:30 PM

Spillovers from a global crisis that began in advanced economies pose a severe test to Latin America and the Caribbean region. On May 21, the Latin America Initiative at Brookings hosted Nicolás Eyzaguirre, director of the IMF’s Western Hemisphere Department, and Steve Phillips, also of the IMF, as they presented this year’s Regional Economic Outlook: Western Hemisphere report.

Stress Test Loan Losses and Profit Expectations: A Comparison

Fri, 08 May 2009 00:00:00 GMT

Doug Elliott analyzes the banking regulator’s stress test results by comparing them with other detailed analyses of the financial state and prospects of the banks, finding that the government's assumptions are more conservative than the IMF's, but less than the pessimists'. But he notes the real stress test will be comfortably surviving 2009 and 2010.

IMF Bonds: Details and Implications

Mon, 04 May 2009 00:00:00 GMT

The IMF is considering issuing bonds as a way to increase the amount of money it has available to lend to countries struggling in the wake of the financial crisis. In a new article, Eswar Prasad discusses the bond proposal, including the potential structure and impacts on the demand for U.S. treasuries.

IMF Governance Reform: A Discussion on the Recommendations of the Committee

Fri, 24 Apr 2009 14:30:00 GMT

Event Information:

April 24, 2009, 2:30 PM to 4:00 PM

On April 24, the Brookings Institution hosted a conversation with Trevor Manuel and George Soros, among other distinguished panelists, on the recommendations by the Committee on IMF Governance and also discussed broader global financial challenges, including proposals for a new global reserve currency.

Assessing the G-20 London Summit: Voices in Play

Wed, 08 Apr 2009 00:00:00 GMT

Following the G-20 Summit in London, Lex Rieffel examines the three distinct voices reflected in the G-20 communiqué. He observes that the mix of voices reflected in the London Summit communiqué represents substantial progress compared to the pre-crisis pattern where the voices of the G-7 countries crowded out other voices.

The G-20 Statement: Implications for Latin America

Thu, 02 Apr 2009 00:00:00 GMT

Economic conditions in emerging and developing countries are rapidly deteriorating and many are unable to implement recommended fiscal stimulus plans. Following the G-20 London Summit, Mauricio Cárdenas discusses the implications for Latin America and how multilateral development banks will play a role in economic recovery.

The London G-20 Summit: Addressing the Global Financial Crisis

Wed, 01 Apr 2009 12:43:39 GMT

On April 2, leaders of the world’s 20 largest economies will begin talks in London to focus on solutions for the global financial crisis. Johannes Linn previews the meeting and says there a number of actions they must agree on to help mitigate the economic crisis.

The G-20 Stimulus Split: A False Debate

Wed, 01 Apr 2009 00:00:00 GMT

Much has been made of a G-20 split on stimulus plans but is the debate warranted? In a new op-ed, Colin Bradford argues that Europe’s automatic stabilizers should count and what matters most is the total amount of global economic response, particularly for citizens suffering from the crisis.

Reform the IMF and World Bank

Mon, 30 Mar 2009 00:00:00 GMT

Reform of the IMF and World Bank is one of the tasks for the G-20 Summit in London. Johannes Linn suggests steps for critical action to help ensure early recovery from the current global financial crisis and the future capabilities of these institutions.

The G-20 London Summit 2009

Thu, 26 Mar 2009 00:00:00 GMT

Leaders of the Group of 20 (G-20) countries met in London on April 2 for their second summit on the global financial crisis. In a new set of articles, Brookings experts addressed the critical issues for policy-makers and offered guidelines for more effective global coordination.

The G-20 Summit and the Financial Crisis’ Impact on Latin America

Thu, 26 Mar 2009 12:39:12 GMT

As the global economic crisis continues, Mauricio Cárdenas says emerging economies in Latin America and elsewhere are hit especially hard. He says G-20 members must urge the multilateral banks to continue lending to the region and adds that without such assistance the crisis will only worsen.

After the Fall: Re-asserting the IMF in the Face of Global Crisis

Thu, 19 Mar 2009 00:00:00 GMT

Under the pressure of the current crisis, the international community is carving out a new role for the IMF. Among Domenico Lombardi's recommendations is making the decision-making system more transparent and inclusive.

The World Economic and Financial Crisis: Next Steps for G-20 Cooperation

Wed, 11 Mar 2009 00:00:00 GMT

Financial turmoil may well continue, which is why government cooperation at the April 2nd G-20 meeting in London is badly needed to mitigate the effects of the crisis and to avoid beggar-thy-neighbor policies. Ralph Bryant argues that a collective bargain among all nations is required to support near-term actions and to reform the institutions for the longer run, and identifies specific short-term commitments.

Back to the Future: The Reform of the Bretton Woods Institutions and the Harry White Method

Tue, 10 Mar 2009 00:00:00 GMT

Will the G-20 be able to offer recommendations for the outdated governance systems of the IMF and the World Bank? Domenico Lombardi suggests a focus on the Bretton Woods model could provide the needed guidance.

The Impact of the Financial Crisis on Low-income Countries

Tue, 03 Mar 2009 00:00:00 GMT

At a Brookings Institution discussion that featured IMF managing director Dominique Strauss-Kahn, Mauricio Cárdenas spoke on how the global financial crisis has impacted Latin America and addressed stimulus plans and challenges.

A Conversation with Dominique Strauss-Kahn on the Impact of the Financial Crisis on Low-Income Countries

Tue, 03 Mar 2009 10:30:00 GMT

Event Information:

March 03, 2009, 10:30 AM to 12:00 PM

On March 3, Brookings hosted Dominique Strauss-Kahn, managing director of the International Monetary Fund, for a discussion on the impact of the fiancial crisis on low-income countries.

International Financial Governance: Toward the London G-20 Summit

Mon, 09 Feb 2009 09:00:00 GMT

Event Information:

February 09, 2009, 9:00 AM to 6:00 PM

In advance of the April G-20 leaders' summit in London, Brookings organized a high-level seminar with the British government and relevant experts to discuss and debate the most critical issues for the summit meeting. British Prime Minister Gordon Brown made introductory remarks at the session, calling for a "bold leap forward" to prevent future financial crises, and noted that the IMF and World Bank need to change their roles post-crisis.

Global Governance Breakthrough: The G20 Summit and the Future Agenda

Wed, 17 Dec 2008 00:00:00 GMT

Paul Martin, former Prime Minister of Canada, and Senior Fellows Colin Bradford and Johannes Linn assess the successful G20 Summit, its impact on global governance and provide recommendations for President-elect Obama. They argue that the next administration can build an inclusive and cooperative summit group to resolve the current financial and economic crisis as well as address other major complex global challenges and opportunities.

Assessing the Key Outcomes of the G-20 Summit

Mon, 17 Nov 2008 00:00:00 GMT

What were the biggest outcomes of the G-20 summit on the financial crisis? Mauricio Cardenas examines the results and notes which steps were worthwhile, what is next and what is left hanging.

Targeted Improvements in Crisis Resolution, Not a New Bretton Woods

Fri, 14 Nov 2008 00:00:00 GMT

In a recent article, Erik Berglöf discusses what G-20 leaders must do to stabilise our economy and fix the financial system.

The G-20 Financial Summit: Seven Issues at Stake

Wed, 12 Nov 2008 00:00:00 GMT

Leaders from G-20 countries gathered in Washington, D.C. to address a financial crisis whose evolution highlights a dramatic shift in the global economy. In a new report, Brookings Global experts examine seven key issues at stake and make recommendations for next steps.

Building a Better Global Financial System

Wed, 12 Nov 2008 00:00:00 GMT

As G-20 leaders prepared to meet in November, many called for a “Bretton Woods II” as the next step toward preventing future financial meltdowns. Lex Rieffel argues that this proposal is problematic because it lumps the World Bank with the IMF and argues for a strengthened IMF.

International Cooperation for Prudential Oversight of Finance: Which Institutions? Which Countries?

Sun, 09 Nov 2008 00:00:00 GMT

World leaders are gathering this weekend at the G-20 summit in Washington to discuss the global economic and financial crisis. In the first of his two pieces, Ralph Bryant lays out general principles for international cooperation in the supervision and regulation of financial activity. In the second piece, he identifies difficult challenges confronting the participating countries and the international institutions—such as the IMF, the Bank for International Settlements and the Financial Stability Forum—that will be the locus of cooperative efforts.

Prudential Oversight of Finance: First Principles for International Cooperation

Sat, 08 Nov 2008 00:00:00 GMT

World leaders gathered at the G-20 summit in Washington to discuss the global economic and financial crisis. In the first of his two pieces, Ralph Bryant lays out general principles for international cooperation in the supervision and regulation of financial activity. In the second piece, he identifies difficult challenges confronting the participating countries and the international institutions—such as the IMF, the Bank for International Settlements and the Financial Stability Forum—that will be the locus of cooperative efforts.

Getting the IMF's Groove Back

Thu, 30 Oct 2008 00:00:00 GMT

During this time of global financial crisis, Eswar Prasad argues that it is time for the IMF to enhance its relevancy through radical change and proposes two new ideas on how to fix the Fund.

Global Financial Crisis: What Should the U.S. Show the World?

Tue, 28 Oct 2008 00:00:00 GMT

CNAPS Nonresident Fellow Yeongseop Rhee writes that the current financial crisis calls to mind the 1997-1998 Asian crisis. At that time, the U.S. and international organizations blamed Asian countries for their plight and prescribed harsh measures for fixing the situation. Dr. Rhee argues that now the U.S. must follow its own advice to maintain its leadership position.

The G-20 Summit: Could the Financial Crisis Push Global Governance Reform?

Fri, 24 Oct 2008 00:00:00 GMT

President Bush recently announced that he has invited the G-20, or the heads of state from the top 20 industrialized and developing economies, to join an economic summit in Washington on November 15. According to Johannes Linn and Colin Bradford, inviting the full G-20 to discuss the current global financial crisis represents a critical step in reforming financial and economic stability, relations and institutions.

Top 10 Global Economic Challenges Facing America's 44th President

Fri, 10 Oct 2008 00:00:00 GMT

As President-Elect Obama prepares to lead the United States, what are the top global economic challenges facing the new president and his advisors and how should the new administration address them? A new report by Brookings global economic and development experts ranks the top 10 issues and details specific ideas for how to tackle the toughest challenges.

Global Perspectives on the U.S. Financial Crisis

Fri, 10 Oct 2008 09:30:00 GMT

Event Information:

October 10, 2008, 9:30 AM to 11:30 AM

What’s next for the global financial markets? Brookings hosted a discussion on the global implications of the U.S. financial crisis, featuring the Honorable Wayne Swan, MP, Treasurer of the Commonwealth of Australia, and projections by Brookings experts on the future of emerging and financial markets.

Reform the IMF or Create a New Global Agency, But Do Something

Thu, 09 Oct 2008 00:00:00 GMT

In advance of the G8 finance ministers meeting and the annual meetings of the IMF and World Bank, Colin Bradford and Johannes Linn stress the need for financial leaders to seek a more vigorous role for the IMF in the global financial crisis and urge leaders to create a new agency to help deal with the urgent challenges if the IMF cannot take the leading role.

The IMF and the World Bank: A Case for Separating the Conjoined Twins

Mon, 06 Oct 2008 00:00:00 GMT

In advance of the annual meetings of the World Bank and the IMF in Washington, Lex Rieffel asserts that both institutions, which were created in 1944 to be at the center of a sound and dynamic international financial system, have overlapping responsibilities and antiquated governance structures that have undermined their legitimacy. In this policy brief, Rieffel offers steps to visibly differentiate the two institutions and improve their effectiveness, including moving the headquarters of the World Bank to Europe.

Bringing Balance to the IMF Reform Debate

Wed, 01 Oct 2008 00:00:00 GMT

In advance of the upcoming World Bank/IMF Annual Meetings, Domenico Lombardi argues in a new report, published by a group of organizations focused on global governance, that the IMF’s governance structure and operational approach must be reformed in order to restore the effectiveness and legitimacy of the Fund.

The IMF and the World Bank: It's Time to Separate the Conjoined Twins

Mon, 22 Sep 2008 00:00:00 GMT

Sixty years following the creation of the IMF and the World Bank, the nature of global financial, emerging markets and poverty aid has changed dramatically. Lex Rieffel argues that if the institutions were to be created today they would be structured differently and located outside of Washington. His case and recommendations for reform are contained in a new working paper.

Governance: The Key to Effective Policies is Accountability

Wed, 03 Sep 2008 00:00:00 GMT

Domenico Lombardi discusses the need for stronger accountability with Finance and Development, a quarterly magazine of the International Monetary Fund, as a way to improve living standards in developing countries and sustain growth.

Should the International Monetary Fund Do Surveillance?

Wed, 16 Jul 2008 00:00:00 GMT

The International Monetary Fund (IMF) conducts regular surveillance with members on economic policies. In a speech to the IMF’s Executive Board, Domenico Lombardi and Ngaire Woods discuss the effectiveness of the Fund’s surveillance efforts and offers recommendations for potential improvement that would aid internationally monetary cooperation.

Tools to Improve the Quality of Public Expenditures and the Role of Civil Society Organizations (CSOs) in the Process

Thu, 19 Jun 2008 09:00:00 GMT

Event Information:

June 19, 2008, 9:00 AM to 1:00 PM

Over the past 30 years, the World Bank and IMF have developed a variety of tools to analyze public spending policies. With the development in low- and middle-income countries of democratic institutions and civil society organizations like think tanks and advocacy groups, we may soon be at a tipping point at which use of these tools along with domestic advocacy pushes countries to stronger reform agendas. On June 19, the Transparency and Accountability Project (TAP) hosted a forum that brings these elements together.

IMF Reform from Another Angle: Towards a More Responsive and Responsible Fund

Mon, 02 Jun 2008 09:00:00 GMT

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June 02, 2008, 9:00 AM to 5:00 PM

Against the background of the disappointing “mini-reform” agreed to at the recent IMF Spring Meetings, a full-day private workshop hosted along with the Friedrich Ebert Foundation (FES) and New Rules for Global Finance Coalition, looked at new ideas and proposals to transform the Fund into a reinvigorated, responsive and responsible player.

Lessons for Strengthening IMF Governance

Sat, 31 May 2008 00:00:00 GMT

For several months the restructuring of the International Monetary Fund has been the center of many global governance discussions. Leonardo Martinez-Diaz examines ways to strengthen the IMF’s Executive Board in its various functions.

The Spring Meetings and the Global Economy

Fri, 02 May 2008 00:00:00 GMT

Missing from the recent IMF-World Bank ministerial meetings was an understanding that policy development needs to be an interactive process, one that includes financial officials and law makers. Colin Bradford advises the world's legislators must be brought into the conversation about global development in order for these discussions to evolve into successful action.

The New Philanthropy and Development Aid

Thu, 24 Apr 2008 00:00:00 GMT

While the World Bank and the International Monetary Fund Spring Meetings made recent headlines, the Global Philanthropy Forum, gathering top private aid donors, fell in the shadows. These private aid donors will likely give more aid to the world’s poor this year than the institutions that convened the Spring Meetings. Raj Desai and Homi Kharas compare these two events and discuss how private aid can help to relieve global poverty.

The Housing Crisis and Lessons for Monetary Policy

Mon, 21 Apr 2008 11:30:00 GMT

Event Information:

April 21, 2008, 11:30 AM to 1:00 PM

On April 21, the Brookings Institution and the International Monetary Fund (IMF) hosted a presentation of recent cross-country IMF research on the housing sector and monetary policy, as released in the April 2008 World Economic Outlook.

The Response to Global Economy Issues

Fri, 11 Apr 2008 08:30:00 GMT

Event Information:

April 11, 2008, 8:30 AM to 9:30 AM

The Brookings Institution and the British Embassy hosted a breakfast discussion on Friday, April 11 with the British Chancellor of the Exchequer, the Right Honorable Alistair Darling MP. The Chancellor discussed the context for this year's IMF Spring Meetings, recent financial market events, and international coordination.

Short Term Fixes for Development Assistance

Thu, 10 Apr 2008 00:00:00 GMT

Poor planning and execution of projects, unachievable goals and a lack of accountability resulting in corruption are a handful of reasons why donors’ development assistance is failing to end poverty. Homi Kharas outlines four short term measures to improve the quality of aid by drawing attention to the growing unmanageable aid delivery system with multiple donors, fragmented projects and divided priorities.

The Future of the IMF

Wed, 09 Apr 2008 00:00:00 GMT

Recent international economic news has led many to question the best role for the International Monetary Fund. Colin Bradford discusses the future of the Fund and perspectives on its governance and critical international responsibilities.

Experts Critique Proposal for IMF Quota Reform

Wed, 09 Apr 2008 00:00:00 GMT

IMF governance reform is critical to adequately represent the rapidly growing emerging market economies and protect lower-income developing countries. Brookings experts raise concern over the Fund’s reform proposals and suggest ways to strengthen the legitimacy of the international financial institution.

Reform of IMF Quota Shares and Voting Shares: A Missed Opportunity

Tue, 08 Apr 2008 00:00:00 GMT

In a new paper, Ralph Bryant examines the recently approved recommended set of reforms for IMF quotas and voting shares and discusses key governance issues.

How Europe Can Shape the International Monetary Fund

Tue, 08 Apr 2008 00:00:00 GMT

This weekend the IMF and World Bank hold their annual Spring meetings. Domenico Lombardi discusses the IMF governance reform plan and ways in which Europe can help to effectively shape the Fund's future.

The Politics of Influence: An Analysis of IMF Surveillance

Tue, 01 Apr 2008 00:00:00 GMT

Assessment of Current IMF Reform Proposals

Fri, 22 Feb 2008 12:00:00 GMT

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February 22, 2008, 12:00 PM to 12:00

Brookings and Centre for Global Governance Innovation (CIGI) hosted a governance seminar where three presenters provided a broad assessment of current IMF reform proposals, specifically surrounding quota and voting share reform.

Double Majority Voting in the IMF

Fri, 08 Feb 2008 12:00:00 GMT

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February 08, 2008, 12:00 PM to 12:00

On February 8, 2008, Brookings and CIGI hosted a governance seminar series about the complex issue of double majority voting at the IMF.

Global Downturn? The World Economy in 2008

Thu, 31 Jan 2008 10:00:00 GMT

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January 31, 2008, 10:00 AM to 11:30 AM

On January 31, the Brookings Institution and the International Monetary Fund (IMF) hosted a presentation of the IMF’s latest World Economic Outlook (WEO) Update. Economic Counselor of the IMF and Director of the Research Department Simon Johnson presented the report’s findings. The WEO contains the IMF’s updated forecast for 2008 and analyzes recent global economic developments.

A Vision for the Future IMF and the Nature of Power within It

Fri, 18 Jan 2008 12:00:00 GMT

Event Information:

January 18, 2008, 12:00 PM to 12:00

On January 18, 2008, Brookings and CIGI hosted a governance seminar where they explored the concept of soft power reform within the IMF.

Reform of Quota and Voting Shares in the International Monetary Fund: "Nothing" Is Temporarily Preferable to an Inadequate "Something"

Tue, 15 Jan 2008 00:00:00 GMT

Ralph C. Bryant summarizes an approach for periodic reviews of IMF quotas and voting shares, emphasizing the issues at stake in the design of a rebalancing formula, and assesses the status of the international negotiations as of the beginning of 2008.

Should Sovereign Wealth Funds Be Regulated?

Thu, 06 Dec 2007 12:00:00 GMT

Event Information:

December 06, 2007, 12:00 PM to 12:00

Brookings recently hosted leading economists for a discussion on the breadth and depth of sovereign wealth funds and potential regulation.

The Role of the IMF in Low-Income Countries: Recent Issues

Wed, 05 Dec 2007 00:00:00 GMT

The question whether the IMF should effectively engage with its low-income member countries has recently generated a wide debate among development economists, policymakers, and advocates from nongovernmental organizations. Brookings Scholar Domenico Lombardi examines the important role that the IMF can play in its low-income member countries and suggests avenues for future improvement.

Central Asia: A New Hub of Global Integration

Thu, 29 Nov 2007 00:00:00 GMT

Central Asia, once viewed as the backyard of the Soviet Union, is now Eurasia's hub of economic integration. Johannes Linn, Brookings Scholar and Special Adviser to the Central Asia Regional Economic Cooperation Program (CAREC), explains what a recent spate of high-level meetings mean for the future of Central Asia, Eurasia and the rest of the world.

Q&A on International Financial Markets and the IMF

Tue, 13 Nov 2007 00:00:00 GMT

In a time of increasing uncertainty about global financial markets and the future of the international monetary system, Peter Kenen, Walker Professor of Economics and International Finance Emeritus at Princeton University, discussed the most critical global economic issues and the future of the International Monetary Fund with Domenico Lombardi, Brookings Global Nonresident Senior Fellow.

IMF Reform: A Marathon, Not a Sprint

Tue, 13 Nov 2007 12:00:00 GMT

Event Information:

November 13, 2007, 12:00 PM to 7:15:00 PM

Why the Next President Should Care About the World Bank and the IMF

Fri, 19 Oct 2007 00:00:00 GMT

Lex Rieffel explains why the presidential candidates should care about the World Bank and the IMF.

Europe and the IMF

Fri, 19 Oct 2007 00:00:00 GMT

Domenico Lombardi explores Europe’s governance role at the IMF in advance of the Annual Meeting in Washington.

Reform of Global Governance: Priorities for Action

Thu, 18 Oct 2007 00:00:00 GMT

Governance reform was high on the agenda at the recent World Bank/IMF Annual Meeting in Washington. Brookings experts Colin Bradford and Johannes Linn examine priorities for reform at both institutions and other global organizations in a new Policy Brief.

Don't Bank on the Asian Development Bank

Tue, 02 Oct 2007 00:00:00 GMT

Given the emergence of Asia as a development success story, William Easterly warns, the Asian Development Bank must change or die.

The Role of the IMF in Low-Income Countries

Mon, 24 Sep 2007 00:00:00 GMT

Nonresident Senior Fellow Domenico Lombardi speaks at an Oxfam International Event on the Role of the IMF in Low-Income Countries.

Europeans Must Lead on Global Governance Reform in Replacing the Head of the IMF

Fri, 13 Jul 2007 00:00:00 GMT

Opinion by Johannes F. Linn and Colin I. Bradford, Frankfurter Allgemeine Zeitung (7/13/07)

Managing Future Financial Crises: The IMF's Role

Wed, 27 Jun 2007 00:00:00 GMT

Opinion by Paul Blustein, The Brookings Institution (6/27/07)

The Way Forward for Global Financial Policy

Fri, 13 Apr 2007 00:00:00 GMT

Opinion by Kenneth Rogoff, Project Syndicate (4/13/07)

Key Features for Governance Reform of the IMF

Tue, 27 Mar 2007 00:00:00 GMT

Presentation by Ralph C. Bryant (03/27/07)

No Grand Plans, but the Financial System Needs Fixing

Thu, 08 Feb 2007 00:00:00 GMT

Kenneth Rogoff Opinion, Financial Times, February 8, 2007

The Next Phase of IMF Reform

Wed, 27 Sep 2006 00:00:00 GMT

Opinion by Johannes Linn and Colin Bradford, Washingtonpost.com (9/27/06)

Who Needs the IMF?

Mon, 25 Sep 2006 00:00:00 GMT

An Opinion by Kenneth Rogoff

Can the IMF Avert a Global Meltdown?

Sun, 10 Sep 2006 00:00:00 GMT

Opinion by Ken Rogoff, Japan Times (9/10/06)

Give Real IMF Reform a Chance

Fri, 01 Sep 2006 00:00:00 GMT

Op-Ed by Colin Bradford

No Major IMF Reforms Just Yet

Tue, 25 Apr 2006 00:00:00 GMT

Opinion by Lex Rieffel, The Washington Times (4/25/06)

Don't Rush to Reform the Fund (and the Bank)

Thu, 23 Mar 2006 00:00:00 GMT

Opinion by Lex Rieffel, The Examiner (3/23/06)

Uneven Patterns of Governance: How Developing Countries Are Represented in the IMF

Wed, 01 Feb 2006 00:00:00 GMT

The IMF is governed by a 24-member Executive Board which represents 184 countries. Although often prized as a small and efficient decision-making body, the Board represents some countries more effectively than others. This is due to the institutional structure and incentives within which the Board operates. Prime among them is a system of constituencies which have formed and evolved as countries have sought to improve their position in the organization. These groups vary in size, shared interests, and distribution of power. Their effectiveness is not only affected by these attributes. It is also determined by decision-making rules across the institution, by the lack of formal accountability of Board members, and by the strength of other coalitions of countries acting informally within the institution. The analysis implies that representation on the IMF Board could be improved without altering the size of the Board.

The IMF's Role in Low-Income Countries: Issues and Challenges

Thu, 01 Sep 2005 00:00:00 GMT

Drawing on recent research, this study elaborates on the role of the IMF in support of its low-income members, pointing to the global character of the institution and to its superior ability—given its multilateral nature—to serve as a financial institution, an information provider, and a commitment device. The IMF assists low-income members through a range of activities that are normally bundled together, including lending, offering policy advice, and providing assistance with capacity building. The study reviews the features of IMF policies towards its low-income membership and points to the main challenges to their success.

Nigeria's Paris Club Debt Problem

Mon, 01 Aug 2005 00:00:00 GMT

Nigeria's debt servicing problems began around 1985, when the Nigerian government's total external debt to all creditors amounted to $19 billion. Since then, the government has paid creditors more than $35 billion while borrowing less than $15 billion. Nevertheless, its outstanding external debt at the end of 2004 grew to almost $36 billion.

Resolving Nigeria's Paris Club Debt Problem: A Case of Non-Performing Creditors

Mon, 01 Aug 2005 00:00:00 GMT

Working Paper by Lex Rieffel (8/1/05)

After the Tsunami, Flexible Debt Relief is Needed

Fri, 14 Jan 2005 00:00:00 GMT

Opinion by Lex Rieffel, Financial Times (London) (1/14/05)

Event Summary: G-20 to Replace the G-8: Why Not Now?

Thu, 23 Sep 2004 00:00:00 GMT

Event Summary (9/23/04)

Argentina: Facing Up to its Debt Mess

Tue, 03 Feb 2004 00:00:00 GMT

Letter to the Editor by Lex Rieffel, Financial Times (2/3/04)

Unelected Government: Making the IMF and the World Bank More Accountable

Sat, 01 Mar 2003 00:00:00 GMT

Accused of being secretive, unaccountable, and ineffective, both the International Monetary Fund and the World Bank are seeking to become more transparent, more participatory, and more accountable. Brookings Review article by Ngaire Woods.

Open Doors: Foreign Participation in Financial Systems in Developing Countries

Fri, 01 Jun 2001 00:00:00 GMT

Conference Report #6, by Robert E. Litan, Paul Masson, and Michael Pomerleano (June 2001)

The "Globalization" Challenge: The U.S. Role in Shaping World Trade and Investment

Wed, 01 Mar 2000 00:00:00 GMT

Brookings Review article by Robert E. Litan (Spring 2000)

The Asian Recovery: Is It For Real?

Fri, 24 Sep 1999 09:45:00 GMT

Event Information:

September 24, 1999 at 9:45 AM

At a Brookings National Issues Forum, experts debated the 1997 financial meltdown in Asia and what the world can learn from it.