stiglitz323_Christophe Gateaupicture alliance via Getty Images_imf world bank Christophe Gateaupicture alliance via Getty Images

Fixing Global Economic Governance

To address climate change and the rest of the Sustainable Development Agenda, we must do more to enhance emerging markets’ and developing countries’ revenues, so that they can make the necessary investments. As matters stand, however, international trade and financial arrangements are overwhelmingly arrayed against this goal.

NEW YORK – Following the annual meetings of the International Monetary Fund and the World Bank this month, the Middle East is teetering on the edge of a major conflict, and the rest of the world continues to fracture along new economic and geopolitical lines. Rarely have the shortcomings of world leaders and existing institutional arrangements been so glaringly obvious. The IMF’s governing body could not even agree on a final communiqué.