The International Monetary Fund (IMF) needs to update its objectives to reflect changes in the global economy, British Chancellor of the Exchequer Gordon Brown said today.
The remarks from Mr Brown, who holds the chair of the IMF's International Monetary and Financial Committee, echo recent comments by Bank of England Governor Mervyn King.
Mr King said the IMF urgently needs to reassess its purpose and needs more focus, independence and legitimacy.
IMF managing director Rodrigo Rato acknowledged earlier this month that his organisation needed to play a bigger economic surveillance role following a number of suggestions by member countries, including the United States.
