The debt crisis that has hammered southern Europe since 2010 will have long-lived economic effects, despite the moderation in Spanish and Italian government borrowing costs since the European Central Bank's "Outright Monetary Transactions" initiative last September.

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The IMF and World Bank leaders meet in Tokyo this week for their fall meetings. Four experts discuss the failure of IMF leaders to implement agreed-upon governance reform.

Talks in Baghdad reflect Iran's new willingness to discuss its nuclear program, but sanctions may not sting enough to make it change course, says expert Hassan Hakimian.

This weekend's G8 summit will be dominated by negotiations over the eurozone sovereign debt crisis and limiting contagion to the global economy, says expert C. Randall Henning.

The IMF released this update to its World Economic Outlook on January 24, 2012.

A broad-sweeping look at international efforts to regulate the global financial system. This is part of the Global Governance Monitor, an interactive feature tracking multilateral approaches to several global challenges.

Christine Lagarde, managing director of the International Monetary Fund (IMF), discusses fragility in the global economy and how the IMF can mitigate international financial crises.

This meeting was part of the C. Peter McColough series on International Economics.

Christine Lagarde, the newly appointed Managing Director of the International Monetary Fund, discusses the IMF's changing role amid growing concerns over U.S. and Eurozone debt with Tom Glocer, Chief Executive Officer of Thomson Reuters.

Christine Lagarde, managing director of the International Monetary Fund (IMF), discusses fragility in the global economy and how the IMF can mitigate international financial crises.

This meeting was part of the C. Peter McColough series on International Economics.

The International Monetary Fund, both criticized and lauded for its efforts to promote financial stability, finds itself again in the forefront of global economic crisis management. This Backgrounder examines the Fund's history and role.

New IMF Managing Director Christine Lagarde has to move quickly to establish independence from the European authorities who got her the job, enhance the IMF's legitimacy, and display her ability to manage the fund, says CFR's Steven Dunaway.

Michael Spence emphasizes the importance of a fair and open selection process in choosing the IMF's next leader.

European Union Commissioner for Economic and Monetary Affairs Olli Rehn says French Finance Minister Christine Lagarde "would make a very good managing director of the IMF for the whole world, not only for Europe." "The European Union and its member states see that Christine Lagarde, the finance minister of France, has very strong professional qualifications and has earned the respect of her peers as the chairperson of the G20," Rehn said.

Sebastian Mallaby contends Christine Lagarde's bid to run the International Monetary Fund will endanger the legitimacy and independence of the institution.

The arrest of IMF chief Dominique Strauss-Kahn on charges of sexual assault could hamper the fund's short-term ability to help manage the eurozone crisis but is not likely to harm the IMF over the long term, says CFR's Steven Dunaway.

Sebastian Mallaby criticizes the IMF for endorsing capital controls.

A panel of experts discuss how various international institutions such as the G20, IMF, and World Bank are playing a role in today's system of global economic governance.

This session is part of a Council on Foreign Relations symposium on Rising Powers and Global Institutions in the Twenty-First Century and was made possible through generous support from the Robina Foundation.

A panel of experts discuss how various international institutions such as the G20, IMF, and World Bank are playing a role in today's system of global economic governance.

This session is part of a Council on Foreign Relations symposium on Rising Powers and Global Institutions in the Twenty-First Century and was made possible through generous support from the Robina Foundation.

Debt restructuring and longer-term eurozone reforms will be needed to contain Europe's sovereign debt problems and restore European stability and prosperity, says CFR's Marc Levinson.

The nearly $1 trillion EU bailout plan appears to have achieved immediate aims of restoring confidence in markets, but concerns persist about deeper reforms needed to tackle the region's sovereign debt crisis.