Search

Begin New Search Topic International Monetary Fund Publishing Institution Center for Global Development

1. International Monetary Fund (ABCs of the IFIs Brief)

Author:
Jenny Ottenhoff
Publication Date:
09-2011
Content Type:
Policy Brief
Institution:
Center for Global Development
Abstract:
The primary role of the International Monetary Fund (IMF) is to promote stability of the international monetary system, the system of exchange rates and international payments that enables countries to transact with one another. To do so, the IMF provides financial assistance in the form of loans to help member countries address balance-of-payments problems, stabilize their economies, and restore sustainable economic growth. The IMF also carries out technical assistance and surveillance activities that help strengthen underlying economic fundamentals of member countries and the global financial systems at large.
Topic:
Development, Economics, International Monetary Fund, Foreign Aid, and Financial Crisis

2. Leadership Selection at the International Financial Institutions

Author:
Jenny Ottenhoff
Publication Date:
09-2011
Content Type:
Policy Brief
Institution:
Center for Global Development
Abstract:
The International Financial Institutions (IFIs) are multilateral agencies. The term typically refers to the International Monetary Fund (IMF), which provides financing and policy advice to member nations experiencing economic difficulties, and the multilateral development banks (MDBs), which provide financing and technical support for development projects and economic reform in low- and middle-income countries. The term MDB is usually understood to mean the World Bank and four smaller regional development banks: African Development Bank (AfDB). Asian Development Bank (ADB). European Bank for Reconstruction and Development (EBRD) Inter-American Development Bank (IDB).
Topic:
Development, Economics, International Monetary Fund, Foreign Aid, and World Bank
Political Geography:
Africa, America, Europe, and Asia

3. Unity in Diversity: A Global Consensus on Choosing the IMF's Managing Director: Evidence from CGD's Online Survey

Author:
David Wheeler
Publication Date:
09-2011
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
On May 19, 2011, the Center for Global Development launched an online survey of the global development community on three issues: the selection process for the IMF's managing director, criteria for rating the candidates, and actual ratings for 15 candidates who had been named by the international media. Between May 19 and June 23, CGD received 790 responses from people whose characteristics reflect the diversity of the international finance and development community. Survey participants represent 81 nations, all world regions, high-, middle-, and low-income countries, and all adult age groups. In this working paper, David Wheeler analyzes the survey results, incorporating the diversity of the respondents by dividing participants into four mutually exclusive assessment groups: Europeans, who have a particular interest in this context; non-European nationals of other high-income countries; and nationals of middle- and low-income countries. Although the participants are diverse, their responses indicate striking unity on all three survey issues. First, both European and non-European participants reject Europe's traditional selection prerogative by large margins, with equally strong support for an open, transparent, competitive selection process. Second, participants exhibit uniformity in the relative importance they ascribe to CGD's six criteria for selecting candidates. Third, the participants exhibit striking consistency in rating the fifteen candidates.
Topic:
Development, Economics, International Monetary Fund, and Governance
Political Geography:
Europe

4. Austerity and the IMF

Author:
Kenneth Rogoff
Publication Date:
10-2010
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
It is a great honor to present the fifth annual Richard H. Sabot lecture at the Center for Global Development. In this talk, I will take up a relatively narrow but absolutely fundamental question in the international monetary system, particularly in developing countries: Is the International Monetary fund (the IMF) guilty of bringing excessive austerity to the countries that turn to it for bailout funding? Should the IMF instead put much more weight on encouraging countercyclical fiscal policy, as it does in rich countries? Extremely difficult and complex issues underlie these seemingly straightforward questions. My modest aim in this lecture is to help clarify the issues so as to promote rational dialogue.
Topic:
Economics, International Organization, International Monetary Fund, and Foreign Aid

5. Billions More for International Institutions? The ABCs of the General Capital Increases (GCI)

Author:
Todd Moss, Sarah Jane Staats, and Julia Barmeier
Publication Date:
06-2010
Content Type:
Policy Brief
Institution:
Center for Global Development
Abstract:
The international financial institutions dramatically increased their lending in 2008–09 to help developing countries cope with the global financial crisis and support economic recovery. Today, these organizations are seeking billions of dollars in new funding. The IMF, which only a few years ago was losing clients and shedding staff, expanded by $750 billion last year. The World Bank and the four regional development banks for Africa, Asia, Europe, and Latin America are asking to increase their capital base by 30 to 200 percent. A general capital increase (GCI) for these development banks is an unusual request. A simultaneous GCI request is a once-in-a-generation occurrence.
Topic:
International Relations, International Monetary Fund, Financial Crisis, and World Bank
Political Geography:
Africa, Europe, Asia, and Latin America

6. What Have IMF Programs With Low-Income Countries Assumed About Aid Flows?

Author:
David Goldsbrough and Ben Elberger
Publication Date:
04-2007
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
This paper examines the nature of aid projections in IMF programs with low-income countries. On average, IMF projections of net aid increased sharply in the first year of programs but tapered off in subsequent years. Projections were also significantly more optimistic in countries with low initial levels of aid but differed little across regions. Most notably, projections of net aid to countries in Sub-Saharan Africa following the Gleneagles Summit are significantly more pessimistic than the path implied by commitments to double aid to Africa by 2010. This pattern is strong throughout the group with only two Sub-Saharan African countries showing increases in net aid consistent with the Gleneagles commitments.
Topic:
Development, Political Economy, Poverty, and International Monetary Fund
Political Geography:
Africa

7. The Globalizers in Search of a Future: Four reasons why the IMF and World Bank must change, and four ways they can

Author:
Ngaire Woods
Publication Date:
04-2006
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
The IMF and the World Bank have been effective engines of globalization. They employ the largest number of applied economists of any institution in the world, aggregating an awe-inspiring bank of economic data and applied research. Their data, standard-setting role, and global influence are prized by their wealthiest members. Poor countries borrow from them. In a globalizing world, we particularly need such institutions. So why are they now in decline?
Topic:
Development, Political Economy, and International Monetary Fund