The sisters at 60
The World Bank and the IMF are not in good health. Kenneth Rogoff, a former chief economist of the Fund, suggests a course of treatment
AS THE two Bretton Woods sisters turn 60, the tough love of the International Monetary Fund and even the free love of the World Bank go largely unrequited. Nowadays the twins, never universally admired, are constantly attacked from the left, from the right, from the centre and, sometimes, by each other. For the Fund and the Bank, another birthday all too often means being the piñatas at their own party. Some of the criticism is justified, some bogus. Both institutions still have a useful role to play and they remain a clear overall plus for the world—but they can and should be improved.
This article appeared in the By Invitation section of the print edition under the headline “The sisters at 60”
By Invitation July 24th 2004
From the July 24th 2004 edition
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