The Archbishop of Canterbury has weighed in on international economic matters, calling for reforms at the World Bank and the International Monetary Fund,
The Most Rev. Justin Welby argued that all too often, the World Bank and the IMF work to serve the market as an end in itself, rather than the common good. Massive reforms are needed to check this tendency of the global economic structure, including a new set of overhauling guidelines, like those which set up the World Bank and IMF seventy years ago.
Welby is particularly critical of the IMF: “It tends to look like a police officer when it should look like the fire brigade,” he said.
“Most of us worry about the former, even if, like me, one greatly admires them, on the off-chance one has done something wrong. The latter will do much damage with water, but is welcome because of the alternative.”
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This is the first time in his tenure that the Archbishop has commented publicly on international affairs, and–like Pope Francis–it is about economic matters.