Reform Blueprint Gives G20 Authority Over IMF |
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February 8, 2011
A more representative Group of 20 leading economies should take ultimate authority over the International Monetary Fund to give the Washington-based organisation greater political clout in resolving global crises, according to a panel of former policymakers.
A more representative Group of 20 leading economies should take ultimate authority over the International Monetary Fund to give the Washington-based organisation greater political clout in resolving global crises, according to a panel of former policymakers.
The recommendation is made in a report by 18 former ministers and central bank governors led by Michel Camdessus, former head of the IMF, and including Paul Volcker, former US Federal Reserve chairman.
The report will be handed to Christine Lagarde, France’s finance minister, this week before the meeting of G20 finance ministers and central bank governors on February 18-19.
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