{"id":1465,"date":"2026-08-09T19:11:58","date_gmt":"2026-08-09T13:41:58","guid":{"rendered":"https:\/\/forumias.com\/psir\/psir-pyq\/how-far-are-the-world-governance-mechanisms-dominated-by-imf-and-upsc-psir-2018-3401\/"},"modified":"2026-08-12T21:24:50","modified_gmt":"2026-08-12T15:54:50","slug":"how-far-are-the-world-governance-mechanisms-dominated-by-imf-and-upsc-psir-2018-3401","status":"publish","type":"psir_pyq","link":"https:\/\/forumias.com\/psir\/psir-pyq\/how-far-are-the-world-governance-mechanisms-dominated-by-imf-and-upsc-psir-2018-3401\/","title":{"rendered":"How far are the world governance mechanisms, dominated by IMF and World Bank, legitimate and relevant? What measures do you suggest to improve their effectiveness in global governance?"},"content":{"rendered":"<div class=\"pq-flow\">\n<div class=\"pq-flow-h\">Flow snapshot <em>\u2014 how the answer moves<\/em><\/div>\n<div class=\"pq-fb\">\n<div class=\"pq-pill p1\"><span>Intro routes<\/span><\/div>\n<div class=\"pq-ft\">\n<p class=\"pq-r\"><i class=\"pq-rt\">Route 1<\/i> legitimacy \u2260 relevance <span class=\"pq-ar\">\u2192<\/span> two separate tests <span class=\"pq-ar\">\u2192<\/span> the twins pass them unequally <span class=\"pq-ar\">\u2192<\/span> function intact, consent missing<\/p>\n<p class=\"pq-r\"><i class=\"pq-rt\">Route 2<\/i> votes fixed in 1944, economy of today <span class=\"pq-ar\">\u2192<\/span> they still do work nobody else does <span class=\"pq-ar\">\u2192<\/span> the authority to do it was never renewed<\/p>\n<\/div>\n<\/div>\n<div class=\"pq-fb\">\n<div class=\"pq-pill p2\"><span>Body flow<\/span><\/div>\n<div class=\"pq-ft\">\n<p>relevance secure: 191 members, surveillance + emergency liquidity, Bank\u2019s long-term finance <span class=\"pq-ar\">\u2192<\/span> India 1991, world 2008, COVID <span class=\"pq-ar\">\u2192<\/span> Sri Lanka \/ Pakistan disliked the terms, no other door <span class=\"pq-ar\">\u2192<\/span> legitimacy breaks: quota vote, US ~16.5% + 85% threshold = effective veto, G7 over 40% <span class=\"pq-ar\">\u2192<\/span> European MD \/ American Bank President by convention alone <span class=\"pq-ar\">\u2192<\/span> <b class=\"pq-sc\">Cox<\/b>: institutions never neutral <span class=\"pq-ar\">\u2192<\/span> <b class=\"pq-sc\">Stiglitz<\/b>: conditionality blind to national conditions, welfare cuts, protest <span class=\"pq-ar\">\u2192<\/span> the gap now costs them: BRICS weight without vote <span class=\"pq-ar\">\u2192<\/span> exit begins: AIIB, NDB <span class=\"pq-ar\">\u2192<\/span> <b class=\"pq-sc\">Kahler<\/b>: reform, or watch them build their own <span class=\"pq-ar\">\u2192<\/span> measures: quotas to track economic weight (2010 = first instalment), end the leadership convention, conditionality that leaves room to grow <span class=\"pq-ar\">\u2192<\/span> <b>Mottley \/ Bridgetown<\/b>: climate vulnerability, not income, to decide concessional access<\/p>\n<\/div>\n<\/div>\n<div class=\"pq-fb\">\n<div class=\"pq-pill p3\"><span>Counter-view<\/span><\/div>\n<div class=\"pq-ft\">\n<p><b class=\"pq-sc\">Weiss<\/b>: incremental reform cannot save an architecture already obsolete <span class=\"pq-ar\">\u2192<\/span> answer to it: no replacement machinery is on offer<\/p>\n<\/div>\n<\/div>\n<div class=\"pq-fb\">\n<div class=\"pq-pill p4\"><span>Conclusion routes<\/span><\/div>\n<div class=\"pq-ft\">\n<p class=\"pq-r\"><i class=\"pq-rt\">Route 1<\/i> the vote must match the economy<\/p>\n<p class=\"pq-r\"><i class=\"pq-rt\">Route 2<\/i> reform is now self-preservation for the twins, not a concession to the South<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"pyq_year":[43],"pyq_marks":[35],"pyq_topic":[77],"pyq_paper":[69],"class_list":["post-1465","psir_pyq","type-psir_pyq","status-publish","hentry","pyq_year-43","pyq_marks-15-marks","pyq_topic-evolution-of-the-international-economic-system","pyq_paper-paper-2"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/psir_pyq\/1465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/psir_pyq"}],"about":[{"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/types\/psir_pyq"}],"version-history":[{"count":4,"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/psir_pyq\/1465\/revisions"}],"predecessor-version":[{"id":4877,"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/psir_pyq\/1465\/revisions\/4877"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/media?parent=1465"}],"wp:term":[{"taxonomy":"pyq_year","embeddable":true,"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/pyq_year?post=1465"},{"taxonomy":"pyq_marks","embeddable":true,"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/pyq_marks?post=1465"},{"taxonomy":"pyq_topic","embeddable":true,"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/pyq_topic?post=1465"},{"taxonomy":"pyq_paper","embeddable":true,"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/pyq_paper?post=1465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}