In her thought-provoking article in the first issue of Global Policy, Ngaire Woods argues that, as the world emerges from the current crisis, multilateral institutions such as the International Monetary Fund (IMF) will have only a limited role to play because no fundamental change to global economic governance has taken place. While we agree that maintaining the momentum of multilateral cooperation in a post-crisis era will not be easy, the reforms under way give greater hope for continued multilateralism than Woods' analysis may suggest. In what follows, we would like to offer our own perspective on the future of multilateralism, drawing on the IMF's recent experience and its current work agenda.
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