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Bringing Balance to the IMF Reform Debate

Domenico Lombardi

World Economics, 2008, vol. 9, issue 4, 13-26

Abstract: This paper summarises the outcome of formal discussions among scholars, former policymakers and senior officials of International Monetary Fund (IMF) member countries that took place in 2007-08 regarding the future of the IMF and how its responsiveness to member countries might be improved. It relates member countries' concerns about ownership and conditionality in IMF programmes; emphasizes the usefulness of IMF surveillance and considers its limitations; highlights opportunities for the IMF to better interact with regional financial organisations; and investigates how the IMF might address problems of representation and accountability. The concluding section summarises the policy recommendations arising from the consultations.

Date: 2008
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