Nancy Birdsall on The Role of Emerging Market Economies in the IMF

In November 2010, the IMF agreed to wide-ranging governance reforms to reflect the increasing importance of emerging market countries. Taken together with earlier reforms agreed in 2008, this will produce a combined shift of 9 percent of quota shares of the Fund to dynamic emerging market and developing countries.

Bringing together voices from inside and outside the Fund, the IMF interviewed a number of government officials, NGO representatives, and IMF staff to discuss the role of emerging market and low-income countries in the IMF. In this video clip, CGD’s president Nancy Birdsall explains what deals must be made before emerging market economies assume more control over the IMF. While the BRICs (Brazil, Russia, India, and China) need to convince the US and Europe that they can be reliable global stewards, rich countries must realize that greater participation is in the long-term interests of all countries. According to Nancy, the IMF has an important role to play in facilitating compromise between these nations.

Click Here to watch more interviews on IMF governance reform at the IMF's website.