(Bloomberg) -- South African President Thabo Mbeki
said the legitimacy and effectiveness of the World Bank and the
International Monetary Fund were being called into question and
urged that the two institutions be reformed.
``The distribution of the voting shares in the fund and the
bank need reform to better reflect the more plural economic world
we now live in,'' Mbeki told the annual meeting of the
International Monetary Conference in Cape Town today. ``Gains to
legitimacy will translate into gains in effectiveness. We must
have the courage to make them happen.''
Read more at Bloomberg Emerging Markets News
said the legitimacy and effectiveness of the World Bank and the
International Monetary Fund were being called into question and
urged that the two institutions be reformed.
``The distribution of the voting shares in the fund and the
bank need reform to better reflect the more plural economic world
we now live in,'' Mbeki told the annual meeting of the
International Monetary Conference in Cape Town today. ``Gains to
legitimacy will translate into gains in effectiveness. We must
have the courage to make them happen.''
Read more at Bloomberg Emerging Markets News
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