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IMF Reform Is Waiting on the United States

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  • Edwin M. Truman

    (Peterson Institute for International Economics)

Abstract

The failure in mid-January by the US Congress to approve IMF reform legislation halted progress on Fund governance and damaged the US reputation around the world. If the IMF is to benefit strong and troubled economies alike, the administration and the Congress must make every effort to pass this legislation before the early-April meeting of the International Monetary and Financial Committee (IMFC). The reform legislation is designed to strengthen the IMF without the need to authorize additional funding, and there is no economic, financial, or political downside for the United States. The main issue before the US Congress is to ensure that the institution is credible in the eyes of all regions and countries. US formal approval is the only thing standing in the way of its implementation.

Suggested Citation

  • Edwin M. Truman, 2014. "IMF Reform Is Waiting on the United States," Policy Briefs PB14-9, Peterson Institute for International Economics.
    • Handle: RePEc:iie:pbrief:pb14-9
    as

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    File URL: https://www.piie.com/publications/policy-briefs/imf-reform-waiting-united-states
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    References listed on IDEAS

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    1. International Monetary Fund, 2010. "Greece: Request for Stand-By Arrangement," IMF Staff Country Reports 2010/111, International Monetary Fund.
    2. International Monetary Fund, 2010. "Greece: Staff Report on Request for Stand-By Arrangement," IMF Staff Country Reports 2010/110, International Monetary Fund.
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    Cited by:

    1. Wade, Robert H. & Vestergaard, Jakob, 2015. "Why is the IMF at an impasse, and what can be done about it?," LSE Research Online Documents on Economics 64106, London School of Economics and Political Science, LSE Library.
    2. Peter Drysdale & Adam Triggs & Jiao Wang, 2017. "China's New Role in the International Financial Architecture," Asian Economic Policy Review, Japan Center for Economic Research, vol. 12(2), pages 258-277, July.
    3. Cheng, Gong, 2015. "The Global Financial Safety Net through the Prism of G20 Summits," MPRA Paper 68070, University Library of Munich, Germany, revised Nov 2015.

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