A Strategy for IMF Reform

Wishing to restore the central role of the International Monetary Fund in maintaining international economic and financial stability, Truman (assistant secretary of the Treasury for international affairs from 1998 to 2000) makes a number of reform recommendations. As laid out in the first chapter, these reforms address issues of organizational governance, policies of systemically important countries, the role of the IMF in external financial crises, refocused engagement with low-income countries, increased attention to capital account and financial-sector issues, and the need for additional financial resources. Annotation c2006 Book News, Inc., Portland, OR (booknews.com)

Edwin M. Truman, nonresident senior fellow since July 2013, joined the Peterson Institute for International Economics as senior fellow in 2001. Previously he served as assistant secretary of the US Treasury for International Affairs from December 1998 to January 2001 and returned as counselor to the secretary March–May 2009. He directed the Division of International Finance of the Board of Governors of the Federal Reserve System from 1977 to 1998. From 1983 to 1998, he was one of three economists on the staff of the Federal Open Market Committee.