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The International Monetary Fund in a new international financial constellation: An interpretational commentary
- Source: CEPAL Review, Volume 1978, Issue 5, 7月 1978, p. 225 - 230
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- 06 7月 1978
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Abstract
1. A ‘new’ IMF appears to be just now in process of emerging. If so, it will probably possess at least four central characteristics, namely: (a) it will be endowed with a significantly larger volume of loanable resources than before; (b) it will dispense those resources as part of a deliberate global policy primarily in order to find a way of recycling OPEC surpluses more efficiently than before; (c) it will undertake those new lending functions with a greater degree of ‘conditionality’ than before; and finally, (d) it will be granted a greater degree of ‘surveillance’ authority in so doing. These judgements stem from the following lines of reasoning.
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