The global financial crisis and its effects on the international monetary funds

Cosimo Magazzino () and Marco Mele ()

Brazilian Journal of Political Economy, 2022, vol. 42, issue 1, 5-24

Abstract: This paper aims to analyze the innovations introduced in the functions of theInternational Monetary Fund in the context of the 2008 economic and financial crisis.This promoted an action that aimed to strengthen the surveillance function through theadoption of the Integrated Surveillance. Thus, alongside the traditional conditionality basedon an a posteriori implementation of adequate economic policies, a criterion of ex anteconditionality in the precautionary branches was also introduced or based on the economiccharacteristics of the country to be financed. Concerning traditional conditionality, it willbe asked whether the IMF has adopted a less extensive approach than its role. JEL Classification: E42; F02; F42; G20.

Keywords: IMF; exchange rate; governance reform; surveillance function (search for similar items in EconPapers)
Date: 2022
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