Current Problems with the IMF and Challenges Ahead- A Latina American Perspective

Jue, 12/11/2008 - 12:33 -- Anónimo (no verificado)

The International Monetary Fund is currently a problematic institution. A brief enumeration of the principal, commonly perceived problems includes the following:

  1. the institution is no longer fulfilling the functions it used to fulfil, nor is there a clear vision of any new functions for it;
  2. due to a drastic pruning of its loan operations, it is not receiving enough revenue to cover its operating costs;
  3. the IMF has not played a notable role in the debate a-bout global imbalances, even though this issue is at the very heart of its institutional remit;
  4. it is suffering a crisis of legitimacy, with its power structure questioned by many members;
  5. there is a lack of confidence, from quite different perspectives, in its intellectual orientation and the quality of its policy recommendations.




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