Bankers want IMF reforms
Published:Monday | October 5, 2009 | 6:21 PM
A group of prominent banks, policy makers and economists known as the Group of 30, are calling for sweeping reforms to the International Monetary Fund (IMF).
In a report released amid the IMF and World Bank meetings, the G30 said nations should quickly change the way the fund is governed to reflect shifts in global economic power.
It also urged the IMF to move to enhance its ability to provide reserves to calm future crises.
Finance ministers and central bankers from around the globe have gathered in Istanbul for the semi-annual meetings of the two leading international financial institutions.
They are faced with making tough decisions needed to restore stability in the global financial system.