http://www.imf.org/
"the guardian of economic stability" rethinks its role give the sytemic nature of the credit crunch:
- Surveillance. Consideration should be given to a Board decision on multilateral surveillance that lays out, for the first time, the nature of the Fund’s responsibility to oversee the international monetary system and the engagement of members. Clarifying the remit over the financial sector is important, and the institution can also do more to monitor capital flows and provide guidance on their regulation. New procedures are needed to consider the systemic effects of country policies beyond the coverage possible in bilateral surveillance.
- Lending. The crisis has shown the value of actual and contingent financing, and of more flexible instruments. The Fund can build on recent initiatives, but must also be ready to handle systemic crises, rethinking its size and ability to deliver short-term liquidity quickly to several countries simultaneously.
- Reserves. The Fund can support systemic stability, providing alternatives to reserve buildup and helping to avoid abrupt shifts between reserve assets.
Financial Crisis
Reforming Global Governance
Globalization
Lending
Advanced Economies
Emerging Markets
Low-Income Countries
Technical Assistance
Fiscal Issues at the IMF
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