From 2008 Global Financial Crisis Lessons to New Possibilities. Evolving the IMF's Legal Framework


Essay, 2024

10 Pages


Abstract or Introduction

The 2008 financial crisis exposed vulnerabilities in the international financial system and its governance structures. While the International Monetary Fund (IMF) played a crucial role in stabilizing economies, its pre-crisis limitations and current focus on crisis response necessitate a transformative vision. This Article proposes an IMF evolution: from first responder to "maestro" of a just and sustainable global financial system, promoting shared prosperity through legal, economic, developmental, and ethical reforms. Addressing legal inadequacies, such as inconsistent regulations and uneven voting rights, it envisions tailored programs, responsible technology use, and strengthened accountability frameworks. This "new score" for a new era prioritizes equity, sustainability, and well-being for all, conducting a harmonious symphony of a more equitable and sustainable world.

Details

Title
From 2008 Global Financial Crisis Lessons to New Possibilities. Evolving the IMF's Legal Framework
Author
Year
2024
Pages
10
Catalog Number
V1450449
ISBN (eBook)
9783963558061
Language
English
Keywords
2008, financial crisis, International Monetary Fund, IMF, Pre-Crisis Shortcomings, IMF Response, Post-Crisis Reforms and Initiatives, voting power, Integrated Surveillance Decision, global digital currency
Quote paper
Ahmad Swaiss (Author), 2024, From 2008 Global Financial Crisis Lessons to New Possibilities. Evolving the IMF's Legal Framework, Munich, GRIN Verlag, https://www.grin.com/document/1450449

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