BoE's King: reform of international institutions

In the speech 'Through the looking glass: Reform of the international institutions' given on 21 December Mervyn King of the Bank of England said the IMF must focus on the spillover effects of economic policies and ensure its work is independent of member countries if it is to remain relevant.

In the speech that made no reference to the domestic monetary outlook, King said 60-year-old institutions such as the IMF needed to adapt to the challenges of an increasingly integrated world.

"One of the

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