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Will the IMF Survive to 100?

Author

Listed:
  • Paulo Nogueira Batista Jr.
  • Robert H. Wade

Abstract

After almost 80 years of the IMF’s existence, the distribution of influence in keydecisions is still much as it was at the organization’s founding in 1945, during the era ofWestern colonialism – still mostly in the hands of a small set of high-income nation. It is asthough the emerging “multipolarity” of the world order had not taken place. This essay setsout the imbalance between the relative “weight” of a country (or set of countries) in theworld economy and the relative weight in Fund governance. After explaining the quota system and other determinants of influence (including occupancy of positions) and the historyof failed attempts to change the distribution of influence, the essay outlines several measuresof incremental reform which would not challenge the US, European, and Japanese grip oninstitution but still improve the way it works in practice and also benefit the smaller andpoorer member countries in particular. However, without more radical shifts in the distributionof influence, the answer to our title question is, probably not. JEL Classification: F00; F02; F30; F33.

Suggested Citation

  • Paulo Nogueira Batista Jr. & Robert H. Wade, 2025. "Will the IMF Survive to 100?," Brazilian Journal of Political Economy, Center of Political Economy, vol. 45(2), pages 253-261.
    • Handle: RePEc:ekm:repojs:v:45:y:2025:i:2:p:253-261:id:2503
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    More about this item

    Keywords

    International organizations; reform of the global financial architecture; International Monetary Fund; high income countries; emerging market and developing countries;
    All these keywords.

    JEL classification:

    • F00 - International Economics - - General - - - General
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F30 - International Economics - - International Finance - - - General
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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