When the G20 meet in April the needs of African countries should be high on their agenda. The G20 have promised “comprehensively to reform the Bretton Woods institutions” . At least three major changes should be pushed.
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02 Feb 2009 / Ngaire Woods
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19 Nov 2008 / GEG
Ngaire Woods addresses the urgent but difficult task of reforming the world’s international financial institutions in a report for the Progressive Governance Conference hosted by Gordon Browne in April 2008.
In the report, she writes that global cooperation among governments is urgently needed to manage the current financial crisis. In principle, the IMF and World Bank are ideally placed to play a key role. But in practice, neither institution is adequately equipped to ensure cooperation to deal with the current crisis. Put simply, neither institution has a governance structure which today commands the confidence of emerging economic powers whose cooperation is vital if global collective action is to resolve the financial crisis.
