Strengthen longer term relevance, effectiveness and legitmacy
In order for our financial institutions to help manage the crisis and prevent future crises we must strengthen their longer term relevance, effectiveness and legitimacy.
In order for our financial institutions to help manage the crisis and prevent future crises we must strengthen their longer term relevance, effectiveness and legitimacy. So alongside the significant increase in resources agreed today we are determined to reform and modernise the international financial institutions to ensure they can assist members and shareholders effectively in the new challenges they face. We will reform their mandates, scope and governance to reflect changes in the world economy and the new challenges of globalisation, and that emerging and developing economies, including the poorest, must have greater voice and representation. This must be accompanied by action to increase the credibility and accountability of the institutions through better strategic oversight and decision making.
Immediately related elementsHow this works
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The G-20 London Summit 2009 Â»The G-20 London Summit 2009
G-20 Summit CommuniquĂ© Â»G-20 Summit CommuniquĂ©
Strengthening our global financial institutions Â»Strengthening our global financial institutions
Strengthen longer term relevance, effectiveness and legitmacy
Greater involvement for IMF's Governors Â»Greater involvement for IMF's Governors
IMF quota and voice reforms Â»IMF quota and voice reforms
Implement World Bank reforms Â»Implement World Bank reforms
Improve responsiveness and adaptability of the IFIs Â»Improve responsiveness and adaptability of the IFIs
New charter for sustainable economic activity Â»New charter for sustainable economic activity
Open, transparent, merit-based appointments Â»Open, transparent, merit-based appointments
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