Define your mission, Paulson advises IMF and Bank

Hank Paulson, the US Treasury Secretary, said that international financial institutions need to better define their core missions, and align staff and other resources accordingly, if they are to remain relevant.

Speaking in Washington on Monday, Paulson said that how to supervise member country exchange-rate policies effectively was "a defining issue" for the International Monetary Fund: "The recent updating of the IMF's exchange rate surveillance mandate was an essential step, and implementa

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