GGP | Global Governance
Policy Brief No. 201910
September 9, 2019
本文已发表于 China Daily | Sept 5, 2019
IMF Needs Reforms to Meet New Challenges
Xiong Aizong
As a significant multilateral organization, the International Monetary Fund has played an effective role in promoting economic globalization. To begin with, the IMF has helped advance globalization and international trade. It is committed to boosting and better balancing global trade, while helping IMF member states establish a multilateral payment system with the aim of removing the foreign exchange limits that impede the development of global trade.
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To some extent, the IMF has encountered difficulties due to a lack of financial resources. For example, its lending capacity has lowered, and as the new borrowing arrangement will expire by the end of 2022, its financial resources could shrink to half their present size if a new arrangement is not put in place. Plus, the lack of financial resources will undermine the IMF's capacity to defend globalization.
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