July 2019 marks the seventy-fifth anniversary of the conference at Bretton Woods that created the World Bank and the IMF. These institutions confront new challenges, in particular the growth and proliferation of regional financial arrangements which have increased the complexity of the global financial safety net. In this paper by the Center for International Governance Innovation, Randall Henning addresses challenges to competition, transparency, moral hazard, special-interest capture, secretariat autonomy, conflict resolution, and creditor seniority. He provides an update on regional arrangements in Europe, East Asia and Latin America; reviews their engagement with the IMF; offers recommendations for their development; and suggests that because each affects the others’ ability to carry out their tasks, these institutions should co-evolve.
https://www.cigionline.org/sites/default/files/documents/paper no.222web.pdf

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