The KDI School hosted a special lecture by Grant Aldonas on September 15th, titled “The Role of the International Financial Institutions during the ongoing global financial crisis; the pros and cons over proposal to reform International Financial Institutions.” Grant Aldonas is Principal Managing Director at Split Rock International, a Washington D.C based trade and investment consulting firm he founded in 2006. Prior to launching the Split Rock, Mr. Aldonas had a distinguished career in law and business, and was former US undersecretary of Commerce for International Trade, and a diplomat. He delivered an intriguing presentation in which he called for an architectural reform of the global finance in light of financial crisis. Some of the guiding principles he proposed included the need to absorb the lessons learned from previous crises, the urgency to rethink institutional incentives in financial architecture, the need to reinforce capital adequacy standards, the importance of transparency to discipline excessive leverage and moral hazard, and the significance of a gradual exit strategy. He also mentioned Korea’s unique opportunity as G20 chair whose effective leadership could spur much needed global reforms as well as progress toward deeper economic integration in Asia and the Pacific.

By Mutinda Adelide Kamanthe (2010 MPP/ED)