ABSTRACT

Meanwhile political leaders like Tony Blair and Michel Jospin have begun to call for reform of the International Financial Institutions (IFI). Aside from the theoretical and methodological weaknesses of the IFIs themselves, the dissatisfaction which produced the 'Fifty years is enough' campaign arose from a number of factors within the institutional framework where the IFI's operate. It is fairly obvious that when the Bretton Woods institutions were set up, although they were part of a wider United Nations (UN) complex. Donald Soper envisages the likelihood that when the Millennium Assembly considers the report of Administrative Committee on Co-ordination it will wish to consider establishing a Special Commission to examine the UN constitutional framework such as he outlined in his reform report. More substantially from the point of view of UN structures, the Secretary General in his Note of 31 March 1998 proposed that the fifty-fifth session of the General Assembly should be designated a Millennium Assembly.