U.S. International Monetary Policy for the IMF

Isao Suto ()
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Isao Suto: Meiji University

Chapter Chapter 2 in History of the IMF, 2015, pp 25-45 from Springer

Abstract: Abstract “Everywhere else in the world, though, politicians and businessmen insist that one of the biggest problems with the I.M.F. is that, contrary to the view of Congress, it acts as the United States Treasury’s lap dog. Ask in Jakarta or Moscow, and the response is the same: The fund never ventures far without looking back for the approving nod of its master” (Sanger 1998). These joint efforts by the U.S. government and the International Monetary Fund (hereinafter Fund or IMF) are predicated on the idea of Neoliberalism or the Washington Consensus that supports a free and open global market economy. On the other hand, international financial institutions such as the IMF and the Bank for International Settlements (BIS) are considered to have taken a position between the market and nation states, and they have comprehensive visions for the world economy. Thus the U.S. could not completely control the Bretton Woods institutions, and the IMF retained considerable autonomy as an international institution.

Keywords: Executive Director; Fund Director; Fund Resource; Treasury Department; Mutual Security (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:stechp:978-4-431-55351-9_2

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DOI: 10.1007/978-4-431-55351-9_2

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