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Still more on the First G-20 Summit

Here's my wish list (as a development economist especially concerned with the effects of the financial crisis and a subsequent global downturn on poor people in emerging markets and low-income countries) for the G-20 Summit. I’ll return to ask how they did next week.

Former and Current Finance Officials Wring Hands over "Toothless and Biased" IMF

A highly distinguished panel on the future of IMF organized by the Per Jacobsson Foundation during the Annual Meetings didn't so much debate the role of the IMF as wring its collective hands over the IMF's limitations in preventing the global financial meltdown and its lack of a role in organizing a response -- even as the G7 finance ministers held emergency meetings the same weekend elsewhere in Washington. (Full disclosure: I am a member of the Per Jacobsson Foundation Board.)

Whither the IMF in the Current Crisis? Invite the Big Emerging Economies to the Table

IMF and Participants at the upcoming meetings of the IMF and World Bank in early October are bound to promise with considerable conviction an increase and an improvement in international coordination of domestic financial regulators -- just as U.S. Treasury and Fed officials are now promising, with considerable conviction, to revisit and reform the rules and the coordination of a currently fragmented regulatory set-up within the U.S.

Put Double Majority Voting Back on the Table at the IMF

The IMF Governors will be considering formally next week a pack of governance reforms -- most notably a proposed change in quota shares and thus voting power among members. The change is meant to give developing countries, especially China, India and other fast-growing emerging market economies, and developing economies as a group, more votes and a bigger stake in the IMF's future.