Reforming the Governance of the IMF and the World Bank

Ariel Buira is Director of the G24 Secretariat. He has been Special Envoy of the President of Mexico for the UN Conference on Financing for Development, Ambassador of Mexico, Member of the Board of Governors of the Bank of Mexico and Executive Director of the IMF. His publications include 'The IMF and the World Bank at Sixty' (Anthem Press, 2005) and 'Challenges to the World Bank and IMF: Developing Country Perspectives' (Anthem Press, 2003).

• List of Contributors; Foreword; 1. Introduction; 2. The Bretton Woods Institutions: Governance without Legitimacy?; 3. Reforming the International Monetary Fund: Towards Enhanced Accountability and Legitimacy; 4. Improving IMF Governance and Increasing the Influence of Developing Countries in IMF Decision-Making; 5. Issues on IMF Governance and Represenation: An Evaluation of Alternative Options; 6. Making the IMF and the World Bank More Accountable; 7. Purchasing Power Parities and Comparisons of GDP in IMF Quota Calculations; 8. Measuring Vulnerability: Capital Flows Volatility in the Quota Formula; 9. Enhancing the Voice of Developing Countries in The World Bank: Selective Double Majority Voting and a Pilot Phase Approach; 10. Voting Power Implications of a Double Majority Voting Procedure in the IMF's Executive Board; 11. Power versus Weight in IMF Governance: The Possible Beneficial Implications of a United European Bloc Vote; 12. Changing IMF Quotas: The Role of the United States Congress