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Savior or Achilles’ Heel of International Markets?: The G20, IMF, and Global Financial Crisis

The meltdown of international financial markets in 2008 and the continuing economic crisis plaguing Europe have ramped up discussions about the challenges and limits of global economic governance. From 2008 to 2009, commitment to a collective international response reached unprecedented levels in recent decades, but sustaining that momentum – led by the G20 and harnessing the legitimacy and technical capacities of the International Monetary Fund – has proven much harder. Former IMF Executive Director for the Fund’s Australia and Pacific Constituency, Chris Legg, will examine lessons from this experience about the nature of international economic governance, and the constraints to enhancing the IMF and G20’s future effectiveness.

Date & Time

Tuesday
Jun. 18, 2013
3:30pm – 5:00pm ET

Location

5th Floor, Woodrow Wilson Center
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Overview

The meltdown of international financial markets in 2008 and the continuing economic crisis plaguing Europe have ramped up discussions about the challenges and limits of global economic governance. From 2008 to 2009, commitment to a collective international response reached unprecedented levels in recent decades, but sustaining that momentum – led by the G20 and harnessing the legitimacy and technical capacities of the International Monetary Fund – has proven much harder.  Former IMF Executive Director for the Fund’s Australia and Pacific Constituency, Chris Legg, will examine  lessons from this experience about the nature of international economic governance, and  the constraints to enhancing the IMF and G20’s future effectiveness.  In particular, he will discuss the role of the G20 and the challenge of governance reform at the IMF in the context of an increasingly multi-polar world.

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Speaker

Chris Legg

Public Policy Scholar;
Former Executive Director, Australia and the Pacific Constituency; Appointed General Manager of the Australian Treasury’s Infrastructure Division, with effect from mid-August 2013
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Hosted By

Asia Program

The Asia Program promotes policy debate and intellectual discussions on U.S. interests in the Asia-Pacific as well as political, economic, security, and social issues relating to the world’s most populous and economically dynamic region.   Read more

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