A New Facility for the IMF?

John Williamson

Chapter 5 in Capital Account Regimes and the Developing Countries, 1999, pp 184-195 from Palgrave Macmillan

Abstract: Abstract This chapter1 offers an assessment of the interests of developing countries in the proposal to create a new, fast-disbursing financing facility within the IMF. The idea of creating an ‘emergency’ facility to counter capital flows judged to be speculative and destabilizing harks back to an idea that was discussed in the Committee of Twenty (on international monetary reform) in the early 1970s. It was revived by Michel Camdessus in speeches in May and June 1994, and subsequent IMF Executive Board papers.

Keywords: Adjustment Measure; Capital Outflow; Equilibrium Exchange Rate; Emergent Market; Debt Reduction (search for similar items in EconPapers)
Date: 1999
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Chapter: A New Facility for the IMF? (1998)
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DOI: 10.1007/978-1-349-15071-7_5

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