What’s Wrong with the IMF? What Would Be Better?
By Allan H. Meltzer
This article appeared in the Fall 1999 issue of The Independent Review


Created in 1944 to help stabilize debtor countries, the International Monetary Fund today is a source of instability, chiefly through its subsidies of risky bank loans and penalties on sound ones. The time has come to rely more on bank capital and market-based incentives to strengthen the international financial system.

Subscribe Today

Buy Single Issues

Independent Review Issues

Articles by Subject

Independent Review Articles on Related Subjects