Geopolitics is Eroding Globalisation - How Should the IMF Respond?
The increasing politicization ofinternational finance and commerce by China, the European Union, and the UnitedStates has put at risk the IMF’s ability to assist member countries and limitexploitative behavior by the governments of the three largest economies. Forthe sake of global economic stability, the IMF must get out in front of thesedangers, Adam Posen argues in his article for the
IMF. But stabilitywill know be achieved by broadening the institution’s remit to pander to thechanging whims of the largest shareholders, though that might beunderstandable. Instead, the IMF should emphasize its unique role as amultilateral conditional lender and a truth teller regarding international debtand monetary issues. This role justifies greater operational independence,along the lines of central banks.
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