This book presents a detailed record and an in-depth analysis of the negotiations that took place within the G20 – the premier forum for international economic cooperation – to achieve historic outcomes on the IMF quota and governance reforms in the lead up to and at the G20 Seoul Summit in 2010. It captures the entire negotiation process that was adopted to shift quota shares and improve governance structure of the IMF, thereby enhancing its legitimacy, effectiveness and credibility. We, the authors, worked on the preparation of the Summit as working level staff and were privileged enough to get involved in one of the most successful multilateral negotiation processes in action. As such, we thought our experiences and analyses of the negotiation process might be helpful to others who may be involved in negotiation processes from time to time or carry out research on negotiations. So we decided to share our experiences and analyses by writing this book.

As the massive global financial crisis swept the world in 2008, one of the major tasks the G20 Leaders focused on at their first Summit in Washington was the reform of the international financial institutions. The G20 delivered its first concrete result in April 2009 when it agreed to increase the IMF resources by more than 500 billion dollars at the London Summit. Then, in Pittsburgh in September 2009, the G20 Leaders further agreed to shift at least 5 per cent share of the IMF quota to emerging market, developing and under-represented countries and undertake governance reforms. But making promises was the easy part. Delivering on them required a lot of hard work and careful negotiations. That’s why when these commitments were finally delivered at the Seoul Summit in November 2010, people said it was the most comprehensive reform in the history of the IMF. While it took many years of negotiations to achieve this result, the book mostly focuses on the negotiations that took place between the Pittsburgh Summit and when Korea hosted the G20 Summit in Seoul.

Shifting IMF quota shares amongst countries is a zero-sum game. If one country wants its quota share increased, it cannot be achieved without a corresponding decrease for some other countries. That is why the IMF quota share reform process was so arduous. Although the 2010 IMF reform was agreed in almost record time, when compared to past agreements, it too was a rough journey consisting of many formal and informal meetings, disagreements and, at times, complete stand-offs in the course of negotiations. This book meticulously records and analyzes the whole 2010 IMF reform negotiation process. But rather than provide a witness statement in a chronological order, the authors divided up the negotiation process into four stages – preparation, exploration of negotiation strategies, actual negotiation and settlement – and evaluated what happened in each stage against a theoretical framework for multilateral negotiation. In addition, the IMF’s major functions, structure and role are explained throughout the book. The authors adopted this approach to enhance readers’ understanding of the issues and provide meaningful insights to those who may have to go through similar negotiation processes in the future.

Finally, the book does not record or evaluate Korea’s role as one of the participants of the negotiation. Rather, it records and evaluates its role and position as the chair country of the G20. However, the book is not an official record or assessment of the implications and achievements of the Seoul Summit.  Official records and assessments can be found in the White Paper published by the Presidential Committee for the G20 Summit. This book was written by working level staff to complement the White Paper by focusing on technical aspects of negotiations and providing lots of firsthand experiences with the negotiation in the form of anecdotes.

In conclusion, we the authors hope that this book will enhance readers’ understanding of the IMF quota and governance reforms, but at the same time provide good insights to general procedures and characteristics of international negotiations. We look forward to it being used as a practical guide for other negotiations in the future.
 

머리말 

약어표기 

제1장 서론 

제2장 IMF 개혁논의 전개과정 
1. IMF 개요  
  가. 설립목적 및 주요 활동  
  나. 지배구조  
  다. 재원구조: 쿼터 
2. G20 이전 IMF 쿼터 및 지배구조 개혁논의 동향  
  가. 쿼터 개혁  
  나. 지배구조 개혁
3. G20 정상회의 출범 및 IMF 개혁논의 본격화  
  가. 워싱턴 정상회의(2008. 10)  
  나. 런던 정상회의(2009. 4)  
  다. 피츠버그 정상회의(2009. 9) 

제3장 G20 IMF 개혁 협상의 분석틀 
1. 협상 관점에서 본 IMF 개혁논의의 특징 
2. IMF 개혁 협상의 주요 요소  
  가. 협상 참여자  
  나. 협상의제  
  다. 협상목표 
3. IMF 개혁 협상과정 개관  

제4장 협상 준비단계: 상황진단 및 기본전략 수립 
1. 추진체계 정비  
  가. G20 준비위원회 발족  
  나. IMF 개혁 워킹그룹 신설  
  다. 국제적 전문가 자문 청취 
2. 기본 추진전략 수립 
3. 1차 협상목표: IMF 개혁시한 단축 
4. IMF 협상 준비단계에 대한 협상론적 고찰  
  가. 협상규칙 및 협상자원 파악  
  나. 협상 참여자 분석  
  다. 협상의제 이해  
  라. 이해관계 분석  
  마. 대안 탐색 

제5장 탐색단계  

1. 탐색 단계에서의 논의동향  
  가. IMF 제1차 시뮬레이션 발표(2010. 3. 5)   
  나. 쿼터 공식 변경 주장의 대두 및 대응  
  다. 쿼터 증액 규모  
  라. IMF 지배구조 개혁 이슈  
  마. 일부 과제 타결 시도 및 실패 
2. 탐색단계에 대한 협상론적 고찰  
  가. 사전 협상  
  나. 정보교류 및 의사소통  
  다. 합의가능영역 존재 파악

제6장 협상 본격화 단계 
1. 하반기 추진전략 수립 및 상황변화 노력  
  가. IMF의 새로운 시뮬레이션 결과 제시(2010. 6. 22)  
  나. 하반기 추진전략 수립 
2. IMF 개혁 협상 본격화 과정  
  가. 상황의 급반전  
  나. 협상 타협안 제시 노력 
3. IMF 협상 본격화에 대한 협상론적 고찰  
  가. 대안 도출방안 모색  
  나. 협상 흐름의 조절 

제7장 협상타결 및 사후관리 단계 
1. IMF 개혁방안 타결 과정  
  가. 중재안의 모습 본격 등장
  나. 대타협을 향하여  
  다. 최종합의 
2. 협상타결 및 사후조치에 대한 협상론적 고찰  
  가. 합의 도출 방안  
  나. 합의문 작성  
  다. 협상 종료 후 조치 
3. IMF 협상을 통해 본 G20 국가들의 특징과 시사점  
  가. 개요  
  나. G20 국가별 특징 

제8장 서울정상회의 결과 및 현행 논의동향 
1. 서울정상회의에서의 IMF 개혁 최종타결 환영(2010. 11) 
2. 서울정상회의의 성과 및 평가 
3. 서울정상회의 이후 IMF 개혁논의동향 

제9장 맺음말 
주요 용어 정리 
Executive Summary