Comments on: Reform the IMF and World Bank Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 By: RK_France Sat, 26 Jun 2010 13:00:28 +0000 The rich world of the yesteryears (G7 / G8 countries) has been grossly incompetent in reducing world poverty through international institutions like the World Bank.

I strongly believe that the World Bank and the IMF be reformed so as to give emerging economies the power to improve their infrastructure and remove poverty.

This is also in the interest of the rich world as these countries will represent big markets.

The fact that the US and European countries are hesitant is quite myopic and foolish.

The idea of a world with the majority of its population prosperous instead of the earlier minority G8 axis is in everybody’s interest!

No power in the world including the US can stop the execution of this idea whose time has come!!

By: Anubis Tue, 31 Mar 2009 12:09:34 +0000 As long as currencies are allowed to float, there will be little improvement in the plight of the world’s poor. As long as we extend and forgive loans to governments like Sri Lanka, the World Bank and IMF will remain nothing more than financial conduits to achieve international political objectives of the G8 and G20 governments. I find the underlying motives of the G20 nations perverse and corrupt. It is time we recognized these institutions have failed at the intended goal of uplifting the poor regions of the world. The fault is not with Mr. Zoellick and his predecessors, but the leadership and and lack of commitment by the IMF and World Bank governing body.

By: Stephane MOT Tue, 31 Mar 2009 08:58:11 +0000 The World Bank is traditionally a US-led joint and opening the casting sounds timely.

The IMF is entitled to help stabilize international exchange rates and that’s a key issue nowadays. Not only for China and the future of the USD, but also for currencies under intense stress (ie KRW) or yet to be born (ie Gulf Common Currency).

I expect some kind of a transitional nest of monetary snakes.

By: Move Dan Tue, 31 Mar 2009 06:44:28 +0000 The United States is not going to relinquish the power to veto anything. In fact, I am of the personal opinion that the IMF and the World Bank were created to suit the interests of the United States finances. Any and all action to make the United States “forgo long-standing prerrogatives and strongly held positions”, as Linn says, is nothing but a dream.