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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.
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Fri, 16 Oct 2009 00:00:00 GMT
Replacing the G8 with the G-20 poses a delicate issue for smaller G8 countries, such as Italy. Some fear this move will dilute their perceived role and influence in the world stage. Domenico Lombardi discusses the dynamics of the G-20's more diverse membership and what role Italy can realistically pursue in an "enlarged" global governance setting.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Tue, 01 Apr 2008 00:00:00 GMT
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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.
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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.
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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.
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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.
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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.
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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.