IMF to Offer Buyouts to about 500 Employees (Washington Post)
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April 30, 2008
The Washington Post quotes CGD president Nancy Birdsall on the IMF's changing role in the global economy. From the article: "For years, the fund had focused primarily on its role as a crisis lender to low- and middle-income countries as they struggled to build market economies. But, increasingly, its role is becoming that of an adviser rather than of a banker. At the same time, the IMF is attempting to shift its focus to areas that include how governments interact with financial markets, as well as to such hotly debated issues as currency imbalances. 'I see it as an adjustment to the reality that their mission is being redefined, whether they like it or not,' said Nancy Birdsall, president of the Center for Global Development. 'The economic issues facing the world are changing; the epicenter of the recent financial crisis, for instance, is in rich countries like the United States, not the developing world. What we do see is that the IMF is recognizing that.'" |