The IMF must change to deal with its new functions in a changed world of interconnected global financial markets. The piece first describes the Fund's mandated process of internal reform as of the time the paper was given (2007). It then summarizes the recommendations of Mervyn Kind, Governor of the Bank of England (in a talk he gave in India) as to how the Fund should change its oversight of the functioning of the international monetary system.
Cynthia C Lichtenstein. "A New Role for the International Monetary Fund in a New World Economic Order." Boston College Law School Legal Studies Research Paper No. 165, 2008.