Research Catalog

Title

An independent and accountable IMF / José De Gregorio ... [et al].

Publication

Geneva : International Center for Monetary and Banking Studies, [1999]

Items in the Library & Off-site

Details

Additional Authors

• De Gregorio, Jose
• International Center for Monetary and Banking Studies

Description

xxi, 134 p. : ill.; 22 cm.

Summary

"Geneva Report on the World Economy argues for far-reaching changes in the structure and operations of the IMF. It argues that the Fund must develop an alternative to ever-bigger bailouts of crisis countries: except under special circumstances it should provide only limited financial support designed to avoid unnecessary recessions while at the same time encouraging market-based debt restructuring. The Fund must also change the way it makes decisions. The report argues for amending the IMF's Articles of Agreement to make the Executive Directors independent of governments but accountable to the Interim Committee of national representatives. Independence will allow the Board to make credible commitments to enforce loan conditions, and not to automatically bail out crisis countries, while insulating it from pressure to carry out the political agendas of national governments."--Jacket

Series Statement

Geneva reports on the world economy ; 1

Uniform Title

Geneva reports on the world economy 1

Alternative Title

Independent and accountable International Monetary Fund

Subjects

• Kongress
• Genf (1999)
• Financial institutions, International
• International Monetary Fund

Genre/Form

• Genf (1999)
• Kongress.

Bibliography (note)

• Includes bibliographical references (p. 131-134).

Processing Action (note)

• committed to retain

Contents

1. The International Financial Institutions: New Roles in a New World -- 1.1. Twenty-first century crises -- 1.2. The Bretton Woods institutions -- 1.3. The brave new world of capital mobility -- 1.4. The dark side of capital mobility -- 1.5. Evolution and adaptation of the international financial institutions -- 1.6. The IMF: staff and governance -- 1.7. Whither the IMF? -- 2. The IMF and Crisis Prevention -- 2.1. Surveillance and financial programming -- 2.2. The Fund's stand on policy prescription -- 2.3. Can crises be foreseen? Can the IMF do the job? -- 2.4. Crisis prevention: is pre-qualification the way forward? -- 2.5. Structural policies -- 2.6. Conclusions -- 3. The IMF and Crisis Management -- 3.1. Dealing with capital account crises -- 3.2. Loan size -- 3.3. Fiscal policy -- 3.4. Monetary policy, exchange rate defence, standstills and 'bail-ins' -- 3.5. Structural conditions -- 3.6. Conclusions -- 4. Reforming the IMF -- 4.1. The context of IMF decision-making -- 4.2. Facilitating information flows to empower the Executive Board -- 4.3. Enhancing transparency and accountability to achieve better alignment of private and social interests -- 4.4. Independence of the Executive Board -- 4.5. Accountability of the Executive Board -- 4.6. Reflections on the proposal -- Appendix. A catalogue of proposals for IMF reform.

ISBN

1898128456

OCLC

• 42850833
• SCSB-9998993

Owning Institutions

Harvard Library