Understanding the IMF Debate
By Thomas D. Willett
This article appeared in the Spring 2001 issue of The Independent Review
Although the attacks on the International Monetary Fund from the far left and the far right are often misguided, the IMF needs serious reform. Unfortunately, the reforms that the IMF needs mostbetter policy coordination and implementation, greater transparency, and the avoidance of pegged exchange rates and moral-hazard problemsface serious bureaucratic and political obstacles.