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Restructuring the IMF's Lending Facilities

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  • Graham Bird

Abstract

The IMF has recently completed a review of its lending facilities as a consequence of which it has implemented a number of reforms. By examining the Fund's basic functions, this paper offers a critical appraisal of these reforms. It is argued that more radical change is needed building on the liquidity and adjustment roles of the IMF. The reforms advocated here would reverse the proliferation of IMF lending facilities that is to be observed since the early 1960s.

Suggested Citation

  • Graham Bird, 2003. "Restructuring the IMF's Lending Facilities," The World Economy, Wiley Blackwell, vol. 26(2), pages 229-245, February.
    • Handle: RePEc:bla:worlde:v:26:y:2003:i:2:p:229-245
    DOI: 10.1111/1467-9701.00519
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    Cited by:

    1. Susanne Lütz & Matthias Kranke, 2010. "The European Rescue of the Washington Consensus? EU and IMF Lending to Central and Eastern European Countries," Europe in Question Discussion Paper Series of the London School of Economics (LEQs) 2, London School of Economics / European Institute.
    2. Graham Bird, 2007. "The Imf: A Bird'S Eye View Of Its Role And Operations," Journal of Economic Surveys, Wiley Blackwell, vol. 21(4), pages 683-745, September.
    3. Graham Bird & Dane Rowlands, 2007. "Should it be curtains for some of the IMF’s lending windows?," The Review of International Organizations, Springer, vol. 2(3), pages 281-299, September.
    4. Susanne Lütz & Matthias Kranke, 2010. "The European Rescue of the Washington Consensus? EU and IMF Lending to Central and Eastern European Countries," LEQS – LSE 'Europe in Question' Discussion Paper Series 22, European Institute, LSE.
    5. Lütz, Susanne & Kranke, Matthias, 2010. "The European rescue of the Washington Consensus? EU and IMF lending to Central and Eastern European countries," LSE Research Online Documents on Economics 53450, London School of Economics and Political Science, LSE Library.
    6. Miguel de las Casas & Xavier Serra, 2008. "Simplification of IMF lending. Why not just one flexible credit facility?," Occasional Papers 0806, Banco de España.

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