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. Last Updated: 07/27/2016

Push to Reform IMF




LONDON -- Britain's Finance Minister, Gordon Brown, the new head of the International Monetary Fund's interim committee, vowed Thursday to take "concrete steps" to reform the IMF and the world's financial architecture.


Setting out his stall ahead of next week's annual meeting of the IMF and World Bank in Washington, Brown said the IMF must agree to reforms in four key areas.


He urged a framework of new codes and standards, a new system of global financial regulation, an improved mechanism for crisis prevention and resolution and the implementation of faster, deeper debt relief for poor countries.