Bringing Balance to the IMF Reform Debate
• Author(s): Domenico Lombardi
• Published: December 2008
• Pages in paper: 14
Abstract
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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More Papers From This Author in World Economics:
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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