Domenico Lombardi

Domenico Lombardi is president of OXONIA, The Oxford Institute for Economic Policy. Previously a Visiting Scholar at The Institute for Fiscal Studies, London, Dr. Lombardi has advised the Executive Boards of the International Monetary Fund and the World Bank. He is a member of leading policy fora including the Brookings Institution and the Bretton Woods Committee’s International Council. His academic research addresses a number of policy-related questions in macroeconomics and international economics. His recent work focuses on the reform of the international financial and monetary system, and the creation of a new aid architecture for low-income countries.

Papers Published in World Economics:

Domenico Lombardi and Maria Fabiana Viola on Barry Eichengreen, Global Imbalances and the Lessons of Bretton Woods: the Cairoli Lectures

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Bringing Balance to the IMF Reform Debate

This paper summarises the outcome of formal discussions among scholars, former policymakers and senior officials of International Monetary Fund (IMF) member countries that took place in 2007–08 regarding the future of the IMF and how its responsiveness to member countries might be improved. It relates member countries’ concerns about ownership and conditionality in IMF programmes; emphasizes the usefulness of IMF surveillance and considers its limitations; highlights opportunities for the IMF to better interact with regional financial organisations; and investigates how the IMF might address problems of representation and accountability. The concluding section summarises the policy recommendations arising from the consultations.

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The Role of the IMF in Low-Income Countries

The question of whether the IMF should effectively engage with its low-income member countries has recently generated a wide debate among development economists, policymakers, and advocates from nongovernmental organizations. This note elaborates on the important role that the IMF can play in its lowincome member countries, points to some current problems with the Fund's engagement with these countries, and suggests avenues for future improvement.

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