Europe Should Boost the Bretton Woods Institutions

Summary:

The EU was concerned about geopolitical fragmentation resulting in a deficit in multilateralism. The US worried about growing Chinese influence. If they wanted to turn the tide, they needed to reinforce the power of the World Bank and IMF to support poorer and debt-stricken countries in their time of need. Rebooting these institutions would not cure the conflicts raging on Europe’s borders. But it might help by stopping a global financing crunch for emerging market and low-income countries in its tracks. The insight that strong global economic guardrails for countries in distress are a pre-condition for peace was, after all, the reason the allies founded the World Bank and IMF in 1944.

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ESO Records

CER Policy Brief: Sept. 2023: Has the IMF’s Lending Become Too Expensive for its Own Good? https://www.europeansources.info/record/has-the-imfs-lending-become-too-expensive-for-its-own-good-the-case-for-a-lending-rate-cap/

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