UN call to reform IMF and WB will fall on deaf ears "The world institutions created generations ago must be made more accountable, more representative and more effective," UN Secretary General Ban said at the opening of a three-day meeting of the U.N. General Assembly on the global financial crisis and its impact on the developing world. "I regret that financial institutional reform has divided (U.N.) member states," he said. The question of reforming the IMF, World Bank and other international financial bodies was one of the issues that the 126 nations participating in this week's financial crisis had struggled to agree on during months of negotiations on a set of proposals for reforming the global financial system. A 15-page draft obtained by Reuters, said nations “recognize that it is imperative to undertake, as a matter of priority, a comprehensive and fast tracked reform of the IMF ... to increase its credibility and accountability, its legitimacy and effec...
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