Sunday February 23, 2020

Lagarde concedes that reform of IMF is needed

The International Monetary Fund must evolve in order to re-establish its legitimacy amid a global economic system undergoing massive shifts in financial power, according to the organisation’s newly-appointed head, Christine Lagarde.

9th July, 2011
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The International Monetary Fund must evolve in order to re-establish its legitimacy amid a global economic system undergoing massive shifts in financial power, according to the organisation’s newly-appointed head, Christine Lagarde.

During her first press conference at the IMF’s headquarters in Washington last Wednesday, former French finance minister Lagarde acknowledged the organisation’s past mistakes and outlined a future where emerging and developing economies would enjoy greater representation.

‘‘The world...

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