The IMF responded forcefully to the end of the par value system in 1971 by amending its Articles of Agreement and changing the scope of its interactions with its member states to better help them manage the challenges of a market based international monetary system. In addition to focusing on...

This article evaluates the prospects for meaningful reform of the global financial architecture. It begins by looking at the most significant problems with the current architecture. Thereafter it classifies the current reform efforts into three areas -- reforms that in fact have been...

This article explores the problems with the current arrangements for international financial governance and the prospects for the IMF being sufficiently reformed to play an effective role in future arrangements for international financial governance. It proposes that the G20 initiate a...