Op-Ed: International Monetary Fund and the World Bank
At the last spring meetings in April of the International Monetary Fund (IMF) and the World Bank in Washington, DC, Rodrigo de Rato, Managing Director of the IMF, decided to make some proposals to reform his institution for the next annual meeting scheduled in Singapore in September 19-20, 2006. Behind it, the debate raises a more important one: the future of the financial and economic global architecture and the world economic governance. Because the IMF is not a single tool which is isolated from the other multilateral bodies. What can be the impact of the reform of the IMF on the World Bank, on the United Nations Development Program, the World Trade Organization, the Organisation for Economic Co-operation and Development and on other multilateral agencies? More broadly, the reform shows the first translation of the increasing political and economic weight of countries like China on the international scene.