Balancing Act

The international monetary fund (IMF) is holding its annual meeting in Southeast Asia this week. Nearly 10 years have passed since the 1997 Asian crisis, so this is an anniversary of sorts?a not entirely happy one. The IMF's image in Asia suffered from perceived missteps it made during the crisis. Yet the fund also did a lot right (as was shown by the region's rapid recovery), and since the crisis the IMF has changed. More change is in the works. At the meeting in Singapore, the fund is pursuing reforms that will give greater influence to emerging economic powers in Asia...