The Voice of America interviews CGD senior fellow Vijaya Ramachandran on the governance of the Bretton Woods Institutions.
From the article:
"A senior fellow at the Center, Vijaya Ramachandran and co-author Enrique Rueda-Sabater complain that the power of board members is based on a combination of factors, including economic and geo-political influence. Some of the world’s most populous countries, including Pakistan, and most important economies, like China and India, are underrepresented.
Ramachandran says this proposal would apportion voting shares to any countries that have either two percent of the world’s population or two percent of global GDP. The new arrangement changes the balance of power in favor of those with large populations or large economies. The plan, she says, balances representation and effectiveness in a transparent manner."
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