Developing Countries and the Global Financial System

image of Developing Countries and the Global Financial System

This book presents the main papers and principal discussion points of a conference held in June 2000, organised jointly by the Commonwealth Secretariat, the World Bank and the IMF. The key aim was to provide policy-makers from developing countries with a forum in which to express their views on a new design of international financial architecture more appropriate to the needs of the twenty-first century. Two related themes were the examination of the critical role of the IME and the World Bank in promoting growth and development and whether international standards and regulatory bodies operate in such a way that they help rather than hinder development of the financial system. This book looks at how these and other issues relating to the global financial system impact on the developing world.



Future Role of the IMF: A Developing Country Point of View

This paper seeks to address some of the issues that have arisen from the recent world-wide debates on the future role of the International Monetary Fund in the wake of its management of the Mexican, Asian, Russian and Brazilian financial crises. The debates have been particularly intense in the USA during and since the passage of legislation in the US Congress for the authorisation of an increase in the US quota and its credit line in the New Arrangements to Borrow (NAB), and following the submission of a report by a US Congressional Commission headed by Professor Alan Meltzer.


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