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Reforming the International Monetary Fund

by Prof. Horst Siebert

Studie zur Reform des Internationalen Währungsfonds (Occasional Paper 11/2006)

The International Monetary Fund (IMF) has been suffering a crisis about the direction it is to pursue. Its mission appears to be frayed and not clearly defined. Its instruments are highly concentrated on ex post liquidity assistance without consideration being given to their incentive effects for new currency crises. The member nations’ quotas no longer correspond to current weights in the global economy; and decision-making processes have come under criticism.

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