GEG Director Professor Ngaire Woods comments on future of IMF for BBC
GEG Director Professor Ngaire Woods has been interviewed by the BBC on the future of the International Monetary Fund, as it faces criticism for its governance and its handling of the Greek financial crisis. In the article, Professor Woods describes the current situation as a critical moment for the IMF: "I think the risk to the IMF is irrelevance and marginalisation."
Referring to the lack of representation of developing countries within the organization, she said: "Emerging economies are using other things - anything but rely on the IMF. If you're sitting in Zambia, Brazil or China, it looks like an organisation that's still run by the USA and Europe."
Professor Woods is an expert in global governance, and recently published a report on Effective Leadership in International Organizations. The report, which identifies seven indicators of effective leadership, describes the IMF as having a mixed track record with respect to meritocratic and accountable leadership, and provides a series of recommendations for best practice.
The report can be downloaded from the link below.