Scenario 2: A grand bargain is struck to comprehensively reform the IMF to give it renewed legitimacy and support, securing its position in the future.
o Double majority voting – as a key first step to democratizing decision-making at the IMF. This would mean decisions made through a majority of country votes as well as a majority of voting shares.
o Truly merit-based leadership selection – with no allocation of any top positions to countries or country groupings.
o Minimum standards of transparency, including publishing transcripts of board meetings.