IMF Steps Up Power to Police Global Economy
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From Times Wire Reports
The International Monetary Fund won new powers to police the world economy after its 184 member countries endorsed a framework to monitor how the economic policies of one country affects others.
The countries, represented by finance ministers or central bank governors, also agreed that some emerging economies needed more say in IMF decision-making.
“We resolve to make the IMF more fit for purpose in a global economy,” said Gordon Brown, Britain’s finance minister.
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