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From Suez to Tequila: The IMF As Crisis Manager

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  • Mr. James M. Boughton

Abstract

The IMF was established in 1944 in part to “give confidence” to member countries by providing short-term credits. Although the intention was that the availability of the Fund’s resources should prevent countries from experiencing financial crises, in practice the institution often has found itself helping its members cope with crises after they occur. This paper examines how the role of the IMF as crisis manager has evolved over time, from its earliest loans to the exchange crisis that hit Mexico in December 1994. It argues that the defining moment for this role was the international debt crisis of 1982.

Suggested Citation

  • Mr. James M. Boughton, 1997. "From Suez to Tequila: The IMF As Crisis Manager," IMF Working Papers 1997/090, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1997/090
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    Citations

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    Cited by:

    1. Ashoka Mody & Diego Saravia, 2013. "The Response Speed of the International Monetary Fund," International Finance, Wiley Blackwell, vol. 16(2), pages 189-211, June.
    2. Dooley, Michael P, 2000. "A Model of Crises in Emerging Markets," Economic Journal, Royal Economic Society, vol. 110(460), pages 256-272, January.
    3. Chinn, Menzie D. & Dooley, Michael P. & Shrestha, Sona, 1999. "Latin America and East Asia in the context of an insurance model of currency crises," Journal of International Money and Finance, Elsevier, vol. 18(4), pages 659-681, August.
    4. Tremblay, Rodrigue, 2000. "Les facteurs déclencheurs des crises financières internationales," L'Actualité Economique, Société Canadienne de Science Economique, vol. 76(3), pages 423-436, septembre.
    5. Ashoka Mody & Diego Saravia, 2009. "From Crisis to IMF-Supported Program: Does Democracy Impede the Speed Required by Financial Markets?," Working Papers Central Bank of Chile 513, Central Bank of Chile.
    6. Kirrane, Chris, 2018. "What Caused the Asian Currency?," MPRA Paper 93643, University Library of Munich, Germany.
    7. Jérôme Sgard, 2000. "La gestion des crises de liquidité internationale : logique de faillite, prêteur en dernier ressort et conditionnalité," Working Papers 2000-16, CEPII research center.
    8. Diehl, Markus & Schweickert, Rainer, 1998. "Currency crises: Is Asia different?," Kiel Discussion Papers 309, Kiel Institute for the World Economy (IfW Kiel).
    9. Kirrane, Christopher, 2018. "The Causes of Asian Currency Crises," MPRA Paper 89103, University Library of Munich, Germany.

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