National leaders gathered in Marrakesh, Morocco, are facing a daunting task, writes James M. Boughton.
About the author: James M. Boughton is a senior fellow at the the Centre for International Governance Innovation, a think tank headquartered in Waterloo, Canada, and former historian of the International Monetary Fund.
Is this statement just a hollow aspiration, or are the Marrakesh meetings an opportunity to restore a more cooperative spirit in global governance? How seismic can we expect this event to be? Yet, reasons for pessimism are no harder to find, mainly because the calls for reform seem increasingly hollow the more closely one looks.
At present, the effectiveness of the G20 is being eroded by serious political disputes within its membership. These limitations will persist. If all that reform efforts achieve is to push the IMF and World Bank back into slightly larger silos, global governance will remain splintered and ineffectual.
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