The IMF and the World Bank at Sixty

Front Cover
Ariel Buira
Anthem Press, 2005 - Business & Economics - 347 pages
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'These "voices of the poorer" are excellent challenges and extensions of present development thinking, whether they are concerned with debt management in developing countries, with conditionalities of the IMF or (my favourite) industrial competitiveness.'
"Jozef Ritzen, President of the Universiteit Maastricht and former Vice President of the World Bank's Development Economics Department (2001-3)"
'The current volume is indicative of the range of significant second options, reflective of developing countries' concerns, that emanate from the G-24's continuing research programme. Its papers should stimulate debates that, on the occasion of the IFI's 60th anniversary, deserve to take place both within these institutions and throughout the broader community of financial and development analysts and policymakers.'
"Gerry Helleiner, Professor Emeritus, Economics and distinguished Research Fellow, Munk Centre for International Studies, University of Toronto"
'The contributors to this volume provide cogent arguments for substantial reforms, not only to the IMF and World Bank, but to the entire financial system, to make it less prone to crisis and more supportive to developing countries.'
"Roy Culpepper, Ph.D. President and CEO, The North-South Institute, Canada"
'"[The IMF and the World Bank at Sixty]" will supply ammunition to all those sceptical about the benefits to developing cuontries of current global economic policies and institutions. It will also be useful reading for courses on global governance, developmental economics, and international finance.'
"Professor Michael J Ellman, Department Chair, Economics, Faculty of Economics and Econometrics, Universiteit van Amsterdam"
As the Bretton Woods institutions enter their sixtieth year, they face a number of challenges. Some are the result of changes that have occurred in the world economy while others are the outcome of their approaches to the problems of stabilization and development, and of their own governance structure.
"The IMF and the World Bank at Sixty" presents a selection of essays prepared for the Group of Twenty-Four Developing Nations (G24), by some of the foremost authorities in their fields, which address these challenges and suggest the need for reform in several areas. Ariel Buira's introduction presents a critical overview of the functioning of the IMF and the international monetary system, underscoring a number of shortcomings that could be remedied to make it more supportive of development through changes in governance. The other essays focus on two areas: financial issues, particularly the prevention of financial crises; and secondly, the policies of the Bretton Woods institutions.
All these essays have one fundamental aim: to improve the functioning of the global economy and to better enable the developing countries to share in the gains in prosperity of recent decades.

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About the author (2005)

Ariel Buira is Director of the G24 Secretariat. He has been Special Envoy of the President of Mexico for the UN Conference on Financing for Development, Ambassador of Mexico, Member of the Board of Governors of the Bank of Mexico and Executive Director of the IMF. His publications include 'The IMF and the World Bank at Sixty' (Anthem Press, 2005) and 'Challenges to the World Bank and IMF: Developing Country Perspectives' (Anthem Press, 2003).

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