I mention these issues today because we have a window of opportunity to move forward on IMF reform. There is today, at least in some quarters, a willingness to strengthen this institution, to make it more relevant. As the world's economies become increasingly globalized, I would argue that now, more than ever, a strengthened IMF is in every country's interest.
The risk of a disorderly resolution of global imbalances may be relatively small, but it remains an important risk for all economies. Strengthening the IMF is one way of reducing this risk. 4  BIS Review 10/2007