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International Monetary Fund: Lending Programs Allow for Negotiations and Are Consistent with Economic Literature
International Monetary Fund: Lending Programs Allo

Our Price: $25.00
By Thomas Melito (au)
Year: 2009
Pages: 69
Binding Paperback

Product Code: 1437925308

The International Monetary Fund (IMF) has significantly increased its total committed lending to countries from about $3.5 billion in Aug. 2008 to about $170.4 billion in Aug. 2009, as countries have been severely affected by the global economic crisis. IMF-supported programs are intended to help countries overcome balance-of-payments problems, stabilize their economies, and restore sustainable economic growth. Critics have long-standing concerns that the IMF has an overly austere approach to macroeconomic policy that does not sufficiently heed country viewpoints. To help address these concerns, the IMF recently stated that it has changed its policies, including by increasing its flexibility. This report examines (1) the process for designing an IMF-supported program, (2) the IMF-supported programs in four recipient countries, and (3) the extent to which the findings of empirical economic studies are consistent with the IMF's macroeconomic policies. Written comments from the Dept. of the Treasury noted its concurrence with the report's conclusions. Tables and figures.

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