INTERNATIONAL

Report Proposes Changes for World Bank, IMF: The Commission on the Future of the Bretton Woods Institutions, headed by former Federal Reserve Chairman Paul A. Volcker, says in a study coinciding with the 50th anniversary of the International Monetary Fund and World Bank that the two institutions need basic changes. The report says countries should establish a formal system of coordination to help avoid roller-coaster trading in the currency markets. The World Bank, it says, should emphasize assistance for private sector development rather than loans to governments, and that the bank’s lending should be limited to projects “the private sector cannot or will not do.”