Modernizing the IMF
If the IMF is to remain relevant at a time of rapid economic transformation, it must adapt. By adding the Chinese renminbi to the basket of currencies that determines the value of its reserve asset, the Special Drawing Right, the IMF would demonstrate its willingness and ability to do just that.
https://prosyn.org/QpuR5Xr
PRINCETON – The international system of economic governance is at a turning point. After 70 years, the Bretton Woods institutions – the International Monetary Fund and the World Bank –appear creaky, with their very legitimacy being questioned in many quarters. If they are to remain relevant, real changes must be made.