from Development Channel

New From CFR: Reforming the IMF

October 12, 2012

International Monetary Fund (IMF) Managing Director Christine Lagarde (L) takes her seat at the opening of the IMF and World Bank annual meeting's plenary session at the Tokyo International Forum on October 12, 2012 (Courtesy Reuters).
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Politics and Government

Yesterday on, four experts from around the world discussed the dynamics surrounding the underrepresentation of emerging economies in the governance of the International Monetary Fund (IMF).

As one expert, Oliver Stuenkel of the Getulio Vargas Foundation in Brazil, argues:

While European and U.S. leaders have asked emerging powers to act as "responsible stakeholders," they are largely unwilling to constructively engage new actors and allow them to assume leadership within existing institutions. One of the consequences is growing support in Brazil and other emerging markets in the creation of a BRICS Development Bank.

You can read the full article here.