Bretton Woods Non-Commission


Bretton Woods Non-Commission Wrap-Up

Postings to this blog are closed. But efforts to modernize the Bretton Woods institutions to better meet the challenges of the 21st century continue, here at the Center for Global Development, within the institutions themselves, and in the international development community more broadly. I invite you to learn more about CGD’s work on the International Financial Institutions and the Future of the World Bank in particular, or check out the past postings to the Bretton Woods Non-Commission blog below.

Fixing World Bank Governance: Four Steps

The report of a high-level commission chaired by former Mexican President Ernesto Zedillo and tasked with generating ideas and momentum for reforming the World Bank’s governance was published in October 2009. Johannes Linn summarizes the report well here (and then complains that its remit was too narrow).

Progress on The "Global Deal": International Cooperation Works

With a little distance from the hype of the two important global events of April—the G-20 London Summit and the spring meetings of the IMF and World Bank—it is perhaps easier to judge how effective these jamborees have been in addressing the key challenges of the current financial and economic crisis. Our assessment is that a “global deal” has been struck and that it is one which deserves to be taken seriously.

Why Don't the Bretton Woods Sisters Offer Risk Insurance? (Could Governance Be Part of the Problem?)

Why have the IMF and the World Bank been so backward on risk management products -- an issue Guillermo Perry explores in a forthcoming CGD book? What is it about their governance, mandate, instruments and/or human nature that leads them like horses to water to lending, even defensive lending, during good times, in effect inviting them, for lack of prior development of insurance and savings products, to "indulge" in a new round of lending in bad times?

What Is Wrong at the IMF? The Europeans Dammit, and Development Community Confusion, Too

Simon Johnson has a terrific statement on why you and I are missing the boat on what’s wrong at the IMF and why we’re not paying enough attention. If you’re interested in reform of governance at the IMF and the World Bank, you’ll see why officialdom (in Europe) is not (now) on your side. Here are excerpts from Simon’s op-ed in the New Republic on-line, which he included in his Baseline Scenario post:

Why a Bretton Woods Non-Commission?

I am pleased to announce the launch of the CGD’s Bretton Woods Non-Commission on Governance Reform of the IMF and the World Bank.  The possibility and the options for deep reform of these institutions are greater today than ever. Ironically, this is thanks to the oncoming global economic crisis, which has exposed the limits of their financing, legitimacy and relevance in the 21st century interconnected global economy.