The G-20 and International Financial Institution Governance
AbstractThis paper addresses the agenda for the Group of Twenty (G-20) leaders' meeting in Seoul, Korea in November 2010. This is an opportunity and challenge for Asian leaders in particular. Their test will be, first, to demonstrate that they can responsibly advance economic recovery. They must also deliver on institutional reform, in particular of the International Monetary Fund (IMF). Author Edwin M. Truman advocates a substantial expansion of the IMF's role as lender of last resort that is integrated with the surveillance role of the IMF in the form of comprehensive prequalification for IMF assistance and policy advice and a substantial increase in the IMF's financial resources. Truman also propose an approach to meaningful reform of the distribution of IMF quotas along with limiting European seats on the IMF executive board.
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Bibliographic InfoPaper provided by Peterson Institute for International Economics in its series Working Paper Series with number WP10-13.
Date of creation: Sep 2010
Date of revision:
International Monetary Fund; Group of Twenty G20; China; Korea; Asia; special drawing rights; economic growth; exchange rates;
Find related papers by JEL classification:
- F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
- F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
- F53 - International Economics - - International Relations and International Political Economy - - - International Agreements and Observance; International Organizations
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