As wars, trade spats, and AI reshape the global economy, the IMF has held its role as the world’s lender-of-last-resort steady. Much of its governance, including countries’ shares of voting rights, have remained the same over decades, often requiring lending countries to return to the same austerity playbook. Gita Gopinath, former first managing director of the IMF says that the stability is by design in times of greater geopolitical uncertainty while Boston University’s Kevin Gallagher says that some parts of the IMF are due for an upgrade.
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