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Wed, 18 Nov 2009 18:49:38 GMT
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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.
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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.
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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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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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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.
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Tue, 28 Apr 2009 00:00:00 GMT
International aid has significantly impacted Ethiopia's development initiatives since the end of World War II, and Ethiopia has been a major recipient of foreign aid in recent times. Project consultant Getnet Alemu examines the country’s aid flows—predominantly assisting Ethiopia's health sector—and argues that although aid has been instrumental in the country's development, donor coordination has been challenging.
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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.
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Thu, 16 Apr 2009 09:51:07 GMT
Mauricio Cárdenas, director of the Latin America Initiative, says the focus of the fifth Summit of the Americas will be the global economic crisis. He also explains that the nations need to agree on strengthening regional development banks and that certain countries need open trade.
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Mon, 13 Apr 2009 00:00:00 GMT
Leaders of the Western Hemisphere gathered in Trinidad and Tobago on April 17-19, 2009 for the fifth Summit of the Americas. In a series of commentary articles focused on the summit's agenda and key challenges, Brookings experts discuss critical economic, social, energy and climate change issues facing the leaders attending the summit and propose recommendations for policy action.
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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.
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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.
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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.
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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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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.
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Wed, 25 Feb 2009 00:00:00 GMT
The April 2, 2009 G-20 Summit should focus on easing the impact of the global financial crisis—particularly on the world’s poor. Leading up to the summit, Johannes Linn lists recommendations for critical World Bank reform so that the global institution can aid the developing world during this time of crisis.
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Wed, 11 Feb 2009 00:00:00 GMT
Affected by the financial crisis, the world’s poorest countries are facing a development emergency. Cutbacks in foreign aid and devalued currencies are wiping out aid contributions that supply the world’s poor with basic necessities—food, education, and healthcare. Billions of aid dollars are sitting in Washington, ready for disbursement but hindered by bureaucracy. Homi Kharas outlines steps to accelerate the disbursement of this aid so that poor countries can receive the help they need.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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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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.
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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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Mon, 02 Jun 2008 09:00:00 GMT
Event Information:
- 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.
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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.
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Wed, 28 May 2008 00:00:00 GMT
The recent report by the Growth Commission addresses critical questions about how developing countries might achieve and sustain high growth rates. In a recent op-ed, Visiting Fellow Bill Easterly discusses why the report represents the final collapse of the “development expert” paradigm while outlining reasons why there is still hope for development.
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Tue, 27 May 2008 00:00:00 GMT
The Commission on Growth and Development’s report recognizes the most sensible strategy to implement development programs is “learning-by-doing” or an experimental approach. In addition to this strategy, Johannes Linn and Homi Kharas push for strong evaluation and implementation in order to scale-up and expand successful development interventions over time. Through stated recommendations, Linn and Kharas encourage policymakers and aid agencies to replicate successful programs so that economic growth can be achieved.
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Tue, 27 May 2008 00:00:00 GMT
Today, half of the world’s population lives in urban areas. As the global population continues to increase in the next 20 years, cities of developing countries will face the greatest population growth. Following the findings from the Commission on Growth and Development’s recent report, Johannes Linn provides practical recommendations so that governments, aid agencies, and academia can develop specific policies to help developing countries meet the challenges and opportunities of urbanization.
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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.
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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.
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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.
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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.
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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.
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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.
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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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Fri, 22 Feb 2008 12:00:00 GMT
Event Information:
- 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.
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Fri, 08 Feb 2008 12:00:00 GMT
Event Information:
- 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.
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Thu, 31 Jan 2008 10:00:00 GMT
Event Information:
- 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.
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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.
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Thu, 06 Dec 2007 00:00:00 GMT
Many hope that a new South American development bank, Banco del Sur, will stimulate growth in poorer countries in that region. Brookings Journalist-in-Residence Paul Blustein comments on this new development.
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Tue, 13 Nov 2007 12:00:00 GMT
Event Information:
- November 13, 2007, 12:00 PM to 7:15:00 PM
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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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Tue, 23 Oct 2007 12:30:00 GMT
Event Information:
- October 23, 2007, 12:30 PM to 2:30
The World Bank’s Africa team examined the major governance issues, successful reforms and fiduciary challenges facing governments in the region from the perspective of World Bank staff who work closely with developing country leaders.
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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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Fri, 19 Oct 2007 00:00:00 GMT
Lex Rieffel explains why the presidential candidates should care about the World Bank and the IMF.
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Tue, 09 Oct 2007 12:00:00 GMT
Event Information:
- October 09, 2007, 12:00 PM to 2:30
The World Bank’s Eastern Europe and Central Asia team examined the major governance issues, successful reforms and fiduciary challenges facing governments in the region from the perspective of World Bank staff who work closely with developing country leaders.
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Fri, 05 Oct 2007 19:07:52 GMT
News Release (6/22/06)
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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.
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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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Fri, 13 Jul 2007 00:00:00 GMT
Opinion by Johannes F. Linn and Colin I. Bradford, Frankfurter Allgemeine Zeitung (7/13/07)
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Mon, 02 Jul 2007 00:00:00 GMT
Opinion by Colin I. Bradford, The Guardian Unlimited (7/2/07)
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Sun, 01 Jul 2007 00:00:00 GMT
Article by Noam Unger, InterAction's Monday Developments (July 2007)
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Wed, 27 Jun 2007 00:00:00 GMT
Opinion by Paul Blustein, The Brookings Institution (6/27/07)
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Wed, 30 May 2007 00:00:00 GMT
Interview by Colin I. Bradford, American Public Media's Marketplace (5/30/07)
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Wed, 30 May 2007 00:00:00 GMT
Interivew by Kenneth Rogoff, Online NewsHour (5/30/07)
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Tue, 29 May 2007 00:00:00 GMT
Both Mr. Tobias and Mr. Wolfowitz came to symbolize similar problems with the current administration's approach to international development. President Bush can reverse these perceptions by establishing an independent executive agency to integrate the bewildering number of foreign aid programs into a coherent, focused cabinet department.
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Fri, 25 May 2007 00:00:00 GMT
Opinion by Ngozi Okonjo-Iweala, The International Herald Tribune (5/25/07)
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Fri, 18 May 2007 00:00:00 GMT
Opinion by Paul Blustein (05/18/07)
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Mon, 30 Apr 2007 00:00:00 GMT
Opinion by Colin I. Bradford (04/30/07)
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Fri, 27 Apr 2007 00:00:00 GMT
Opinion by Ralph C. Bryant (04/27/07)
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Mon, 23 Apr 2007 00:00:00 GMT
Opinion by Kenneth Rogoff, Chicago Tribune (4/23/07)
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Mon, 23 Apr 2007 00:00:00 GMT
Interview by Kenneth Rogoff, NPR's All Things Considered (4/23/07)
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Tue, 27 Mar 2007 00:00:00 GMT
Presentation by Ralph C. Bryant (03/27/07)
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Thu, 08 Feb 2007 00:00:00 GMT
Kenneth Rogoff Opinion, Financial Times, February 8, 2007
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Wed, 27 Sep 2006 00:00:00 GMT
Opinion by Johannes Linn and Colin Bradford, Washingtonpost.com (9/27/06)
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Mon, 25 Sep 2006 00:00:00 GMT
An Opinion by Kenneth Rogoff
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Sun, 10 Sep 2006 00:00:00 GMT
Opinion by Ken Rogoff, Japan Times (9/10/06)
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Fri, 01 Sep 2006 00:00:00 GMT
The World Bank is assailed by critics on the left, right and center on the grounds it is not effective, not accountable, not democratic or legitimate, and most threatening of all, not relevant in a global economy where private capital, production, an
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Fri, 01 Sep 2006 00:00:00 GMT
Op-Ed by Colin Bradford
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Thu, 22 Jun 2006 10:00:00 GMT
Event Information:
- June 22, 2006, 10:00 AM to 11:30 AM
On June 22, members of the bipartisan Brookings-CSIS Task Force on Transforming Foreign Assistance in the 21st Century gathered at Brookings to release new recommendations to address the challenges and opportunities associated with foreign aid transformation.
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Tue, 25 Apr 2006 00:00:00 GMT
Opinion by Lex Rieffel, The Washington Times (4/25/06)
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Thu, 23 Mar 2006 00:00:00 GMT
Opinion by Lex Rieffel, The Examiner (3/23/06)
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Wed, 01 Mar 2006 00:00:00 GMT
The World Bank's role in middle income developing countries needs to change. Not to end lending to them, or adopt the other proposals from extremists on the right or left. But rather to modernize both what the Bank does and how it does it, so as to respond more effectively to the changed circumstances, needs, and preferences of this group of 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 Dec 2005 00:00:00 GMT
Throughout the 1990s, numerous financial crises rocked the world financial sector. The Asian bubble burst, for example; Argentina and Brazil suffered currency crises; and the post-Soviet economy bottomed out in Russia. In Financial Crises, a distinguished group of economists and policy analysts draw lessons from attempts to recover from these and other financial crises of recent history.
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Mon, 26 Sep 2005 09:30:00 GMT
Event Information:
- September 26, 2005, 9:30 AM to 11:30 AM
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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.
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Mon, 28 Mar 2005 00:00:00 GMT
Opinion by Carol Graham, Christian Science Monitor (3/28/05)
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Mon, 04 Oct 2004 00:00:00 GMT
Comments by Johannes F. Linn, OED Conference on the Effectiveness of Policies and Reforms (10/4/04)
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Thu, 01 Apr 2004 00:00:00 GMT
Opinion by Ralph C. Bryant and Marc de Fleurieu (4/01/04)
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Fri, 06 Feb 2004 00:00:00 GMT
Opinion by Lex Rieffel, The Miami Herald (2/6/04)
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Tue, 03 Feb 2004 00:00:00 GMT
Letter to the Editor by Lex Rieffel, Financial Times (2/3/04)
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Sat, 01 Nov 2003 00:00:00 GMT
We need to think harder about the norms and procedures for the governance of globalization. writes Joseph Nye in setting out the goals of this report. Focusing on the roles of the World Trade Organization, International Monetary Fund, and World Bank
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Fri, 01 Aug 2003 00:00:00 GMT
CSED Working Paper 34: Liquidity Protection versus Moral Hazard: The Role of the IMF
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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.
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Tue, 17 Apr 2001 00:00:00 GMT
Event Information:
- April 17, 2001 at 12:00 AM
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Mon, 01 Jun 1998 00:00:00 GMT
Brookings Review article by Mike M. Mochizuki (Summer 1998)
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Mon, 01 Jun 1998 00:00:00 GMT
Brookings Review article by Robert D. Hormats, Lawrence Lindsay, and Barry P. Bosworth (Summer 1998)
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Tue, 14 Apr 1998 10:00:00 GMT
Event Information:
- April 14, 1998 at 10:00 AM
Secretary of the Treasury Robert Rubin discussed the international financial system in the wake of the financial crisis in Asia; what we can learn from these events about the opportunities and risks of a global financial market; and how we can strengthen the architecture of the international financial system to realize the potential of a 21st century global economy.
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Sun, 01 Feb 1998 00:00:00 GMT
Policy Brief #30 by Robert Litan