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International monetary fund after the financial crises of the 1990s

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  • Jiří Jonáš

Abstract

In this article, I would first discuss briefly what we know about the causes of the recent financial crises, and whether the International Monetary Fund (IMF) could have done more to prevent them. I will explain what policy strategies the IMF recommended to resolve these crises, why it recommended these policies, and to what extent is the criticism of these recommendations justified. In the second part, I will discuss the lessons which the IMF has drawn from these crises. I will explain how the experience of recent years has changed the thinking about the proper role of the IMF in supporting stable international monetary system. I will focus on two broad areas of changes in the activity of the IMF. First, on measures that are being taken to make the repetition of financial crises less likely; second, on measures to be applied if the prevention fails and if a financial crisis strikes again.

Suggested Citation

  • Jiří Jonáš, 2001. "International monetary fund after the financial crises of the 1990s," Prague Economic Papers, Prague University of Economics and Business, vol. 2001(1).
    • Handle: RePEc:prg:jnlpep:v:2001:y:2001:i:1:id:166
    DOI: 10.18267/j.pep.166
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