Thursday, November 6, 2008

Rogoff Wants Less Eurocentric IMF

Harvard economist Ken Rogoff thinks that the IMF needs to be revamped to meet the needs of the current crisis. He wants a less eurocentric governance structure, one that would give more power to Asian and Middle East countries with current account surpluses, and he also believes that the IMF's role should shift toward monitoring and surveillance of third-party loans instead of direct lending to emerging market economies.

1 comment:

Leo said...

On the governance issue, European governments will have a hard time arguing against Rogoff.

However, on the IMF, Kenen has his doubts.

http://www.telos-eu.com/en/article/not_another_bretton_woods