Yellen calls for IMF reform
US Treasury secretary says fund needs better “tools” to tackle crises as well as governance reform
US Treasury secretary Janet Yellen called for reforms to the International Monetary Fund, as the global institution begins its spring meetings.
Yellen said on April 13 that the world needed to ensure the IMF has the “tools to fulfil its role of financial firefighter” as it faces “modern” crises that may be more severe and frequent. She said the fund had not been designed to address the “novelty and breadth” of the global financial crisis and the Covid crisis.
“As a consequence, the economic
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