Strengthening the International Monetary Fund for Stability and Sustainable Development

By Haihong Gao and Kevin P. Gallagher

Abstract

G20 leaders should re-affirm that the International Monetary Fund (IMF) is a central pillar in a well-functioning multilateral system striving to achieve peace, stability, and the Sustainable Development Goals (SDGs). The IMF will need to be adequately resourced in order to achieve these goals. And, an effective and legitimate IMF will need to significantly reform its governance, expand and improve its toolkit, and better cooperate with other actors in the global system in order to maintain financial stability and achieve sustainable development.