IMF & WORLD BANK REFORMS

The leaders of 10 Commonwealth countries met earlier this year in London and called for a change in the world's economic system. Those leaders focused on how the World Bank provides development funds to poor countries and
how the International Monetary Fund sets conditions for offering its financial support. Both institutions date back to the closing monthsof World War Two when world leaders met at Bretton Woods, New Hampshire in the United States to map out a new international monetary system. Paul Ndiho recently sat down with Jonathan Ockenden, a top adviser to the Commonwealth Secretariat. Ockenden explained why the Commonwealth is calling for reforms in international financial institutions