World Chronicle
World Chronicle 831: J.V. Langmore, DESA
REFORMING INTERNATIONAL FINANCIAL INSTITUTIONS
The Bretton Woods Institutions were created more than fifty years ago. At the time, their object was to manage the international payments system and to assist in the reconstruction of Europe. The world has changed since then. A recent study prepared by the World Institute for Development Economics Research of the United Nations University, points out the urgent need to reform the International Monetary Fund and the World Bank. How can these changes be brought about? In this edition of World Chronicle, John Langmore, Director of the Division for Social Policy and Development of the United Nations' Department of Economic and Social Affairs, talks about the globalization of the economy and the changes that this process may bring to UN institutions.
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