This is last clear chance for MDBs: Ex-US Treasury secy Lawrence Summers

Nothing important is ever easy but we are increasingly seeing a coming together of the world. I am encouraged by the way the shareholders have come together

Renowned economist and former US Treasury secretary Lawrence Summers says multilateral development banks (MDBs) such as the World Bank, International Monetary Fund (IMF), and Asian Development Bank need to become not just bigger but also bolder and better. Summers, co-chair of the G20 expert group on MDB reforms, tells Ruchika Chitravanshi in a telephonic interview that India’s G20 presidency will be remembered for the time when the world turned the corner on addressing the 21st century challenges. Edited excerpts:

What do you think of the G20 Delhi declaration as far as strengthening MDBs is concerned?

I am very encouraged by