POLICY BRIEF 13-7

The Congress Should Support IMF Governance Reform to Help Stabilize the World Economy

by Edwin M. Truman, Peterson Institute for International Economics

March 2013

The International Monetary Fund (IMF) continues to play an indispensable role in stabilizing the world economy and financial system, but it will need assistance (particularly from the US Congress) if it is to continue to help troubled and strong countries alike. US leadership has been crucial in promoting reform of the IMF. Legislation is now before the Congress to cement recent reform agreements. That legislation will strengthen the IMF without the need to authorize one additional dime of the taxpayers' money and with no economic, financial, or political downside for the United States.

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RELATED LINKS

Policy Brief 14-9: IMF Reform Is Waiting on the United States March 2014

Book: A Strategy for IMF Reform February 2006

Working Paper 11-5: Integrating Reform of Financial Regulation with Reform of the International Monetary System February 2011

Policy Brief 10-29: Strengthening IMF Surveillance: A Comprehensive Proposal December 2010

Working Paper 10-14: Reform of the Global Financial Architecture October 2010

Testimony: The Role of the International Monetary Fund and Federal Reserve in the Stabilization of Europe May 20, 2010

Op-ed: How the Fund Can Help Save the World Economy March 5, 2009

Article: Economists Seek IMF Reform January 26, 2009

Policy Brief 07-1: The IMF Quota Formula: Linchpin of Fund Reform February 2007

Op-ed: The IMF Should Heed This Resignation July 25, 2012



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