IMF Lending to Developing Countries: Issues and Evidence

by Graham Bird

Overview

As the linchpin of the global financial system, the International Monetary Fund provides the balance of payments support, chiefly to developing countries, conditional on strict remedial policy measures. Its approach to policy remains highly controversial, however. While the Fund claims it has adapted, critics allege its policies are harshly doctrinaire, imposing hardships on already poverty-stricken people. For the critics, the half century of its existence is 'fifty years too long' and radical change is essential. This book examines the arguments, tracing the extent of Fund adaption, presenting major new evidence on the consequences of fund programes, and considering its future role.

Product Details

ISBN-13:	9781134817634
Publisher:	Taylor & Francis
Publication date:	09/02/2003
Series:	Development Policy Studies Series
Sold by:	Barnes & Noble
Format:	eBook
Pages:	200
File size:	408 KB

About the Author

Graham Bird is Professor of Economics and Director of the Surrey Centre for International Economic Studies, University of Surrey.

Table of Contents

1 THE IMF AND DEVELOPING COUNTRIES 2 IMF LENDING: THE ANALYTICAL ISSUES 3 IMF LENDING: THE EMPIRICAL EVIDENCE 4 IMF LENDING: THE WAY FORWARD

Editorial Reviews

The International Monetary Fund (IMF) was originally created to centralize management of the global monetary system, but as the richer countries turned to more flexible sources of finance, IMF lending became almost exclusively focused on the developing world. This study provides a detailed theoretical and empirical analysis of IMF lending, discussing SDRs, lending patterns, and economic characteristics of user countries, and recommends key changes needed if the Fund is to realize its full potential for assisting developing countries. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Booknews

‘This book, the product of a research project under the auspices of the Overseas Development Inst of London, provides a detailed theoretical and empirical analysis of IMF lending policies, and concludes that fundamental changes in IMF lending strategy and, indeed, in its philosophical orientation, are required to improve the efficiency and equity of IMF lending,' I Jrnl of Technical Cooperation

From the Publisher