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The Policy Framework of the International Monetary Fund (IMF): An Overview of Recent Developments

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  • Keeney, Mary J.

    (Central Bank of Ireland)

Abstract

This Article outlines some key IMF policy developments, discusses their global financial implications and highlights some direct implications for Ireland as a member of the IMF. The passing of the 14th General Review implied significant reforms to the IMF's lending capacity, country representation and governance as well as to the conditions under which Members can access resources. Other recent changes include a fundamental modification of the exceptional access framework and lending into arrears policies as well as the recognition by the IMF of the global currency status of the Renminbi. The Article concludes with a brief discussion of future challenges for the IMF.

Suggested Citation

  • Keeney, Mary J., 2017. "The Policy Framework of the International Monetary Fund (IMF): An Overview of Recent Developments," Quarterly Bulletin Articles, Central Bank of Ireland, pages 92-102, January.
    • Handle: RePEc:cbi:qtbart:y:2017:m:01:p:92-102
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    File URL: https://centralbank.ie/docs/default-source/publications/quarterly-bulletins/qb1-17/quarterly-bulletin-no-1-2017.pdf#page=89
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    References listed on IDEAS

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    1. Bénétrix, Agustin S. & Lane, Philip R. & Shambaugh, Jay C., 2015. "International currency exposures, valuation effects and the global financial crisis," Journal of International Economics, Elsevier, vol. 96(S1), pages 98-109.
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    Cited by:

    1. Alm, Bastian & Weins, Sebastian, 2018. "Current account imbalances: Possibilities for Trade Policy Action under the Auspices of the WTO – a German Perspective," EconStor Preprints 173387, ZBW - Leibniz Information Centre for Economics.
    2. Göver, Zeki Tuğrul, 2018. "The Effects of the IMF’s Quota and Governance Reforms on Turkey," Bulletin of Economic Theory and Analysis, BETA Journals, vol. 3(1), pages 1-34, March.
    3. Dr. Reem Al-Araj, 2018. "Effectiveness of Auditing in Combating Financial Corporate Corruption in Jordan from Managers’ Perspectives," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 8(7), pages 15-24, July.

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