Reforming the International Monetary and Financial Systems in the Wake of the Global Crisis


The Stiglitz Report: In October 2008, the President of the General Assembly of the United Nations, Miguel d’Escoto Brockmann, established the “Commission of Experts of the President of the UN General Assembly on Reforms of the International Monetary and Financial System” chaired by Joseph E. Stiglitz. This commission had the aim of proposing necessary reforms in the world financial system that would prevent another event like the late-2000s financial crisis.

Besides Stiglitz, members of the commission included Andrei Bougrov, Yousef Boutros-Ghali, Jean-Paul Fitoussi, Charles A. E. Goodhart, Robert Johnson, Jomo Kwame Sundaram, Benno Ndulo, José Antonio Ocampo, Pedro Páez, Avinash Persaud, Yaga Venugopal Reddy, Rubens Ricupero, Eisuke Sakakibara, Chukwuma Soludo, Heidemarie Wieczorek-Zeul, Yu Yongding and Zeti Akhtar Aziz. Jan Kregel acted as rapporteur.

The report goes through four main topics:

Macroeconomic Issues and Perspectives
Reforming Global Regulation to Enhance Global Economic Stability
International Institutions
International Financial Innovations



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