Reform of the International Monetary System

Some Points of Special Interest to Developing Countries of the Commonwealth

image of Reform of the International Monetary System



Constitutional and Organizational Issues

The formation of the Committee of Twenty (C20) marks an important achievement and also an important opportunity for developing countries. It is an important achievement because other approaches to the reform of the world monetary system that were much less palatable to developing countries were being considered. The OECD apparently made an effort to play a central role, if not the central role, stressing the interrelationships between monetary, trade, and development matters all of which fall within the purview of that Organisation.


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