A Strategy for IMF Reform: 77 (Policy Analyses in International Economics)

Edwin M. Truman

ISBN 10: 0881323985 / ISBN 13: 9780881323986

Editore: Peterson Institute for International Economics, 2006

Riguardo questo articolo

Dispatched, from the UK, within 48 hours of ordering. Though second-hand, the book is still in very good shape. Minimal signs of usage may include very minor creasing on the cover or on the spine. Underlining. There is pen or pencil underlining one some pages, however this does not interfere with use. Notes. Pen or pencil notes in some parts of book, however this does not interfere with your use or reading.

Codice articolo CHL6877559

Dati bibliografici

• Titolo: A Strategy for IMF Reform: 77 (Policy Analyses in International Economics)
• Editore: Peterson Institute for International Economics
• Data di pubblicazione: 2006
• Lingua: Inglese
• ISBN 10: 0881323985
• ISBN 13: 9780881323986
• Rilegatura: Paperback
• Condizione: Used; Very Good

Descrizione articolo

Riassunto

The International Monetary Fund (IMF) is in eclipse as the preeminent institution promoting international economic and financial stability. Successful reform of the IMF must engage the full spectrum of its members. The IMF should not focus primarily on its low-income members and the challenges of global poverty nor should it focus exclusively on international financial crises affecting a small group of vulnerable emerging-market economies. Instead, it must be engaged with each of its members potentially on the full range of their economic and financial policies and play a central role in shaping global economic performance.

This important new book strongly argues that systemically important countries, starting with the Group of Seven, must support the IMF in this role. Its recommendations cover all key aspects of IMF responsibilities and operations: (1) In the crucial area of governance, the membership of the IMF should promptly address the reallocation of IMF shares (voting power) and the reallocation of chairs (representation on the IMF executive board), and it is time to discard the old conventions and to adopt a merit-based approach to the choice of the IMF's leadership; (2) mechanisms should be put in place to increase the IMF's leverage over systemically important members, and the IMF must act more forcefully in discharging its responsibility to exercise firm surveillance over members' exchange rate policies; (3) the Fund's central role in external financial crises should be reaffirmed; (4) the IMF should narrow and refocus its involvement with its low-income members; (5) the IMF's activities should be updated with respect to members' capital account policies and financial sectors; and (6) the IMF should put in place procedures for borrowing from the market to guard against the possibility that it will not receive timely increases in its quota resources.

Informazioni sull?autore

Edwin M. Truman, nonresident senior fellow since July 2013, joined the Peterson Institute for International Economics as senior fellow in 2001. Previously he served as assistant secretary of the US Treasury for International Affairs from December 1998 to January 2001 and returned as counselor to the secretary March May 2009. He directed the Division of International Finance of the Board of Governors of the Federal Reserve System from 1977 to 1998. From 1983 to 1998, he was one of three economists on the staff of the Federal Open Market Committee.