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Finance, Development, and the IMF
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Finance, Development, and the IMF

James M. Boughton and Domenico Lombardi

Abstract

This book provides an assessment of the role of the International Monetary Fund in poor countries. In recent years, a large portion of the work of the IMF has focused on the economies of low-income countries by aiming to create conditions conducive to poverty reduction and stable economic growth. More than two fifths of the IMF's 185 members are low-income countries and many others have substantial pockets of poverty in their populations. Since economic development and the reduction of poverty are the most important economic challenges that these countries face, how can the IMF best help them? ... More

Keywords: aid, conditionality, development, donors, evaluation, governance, growth, IMF, IMF reform, lending

Bibliographic Information

Print publication date: 2009 Print ISBN-13: 9780199239863
Published to Oxford Scholarship Online: September 2009 DOI:10.1093/acprof:oso/9780199239863.001.0001

Authors

Affiliations are at time of print publication.

James M. Boughton, editor
Historian of the International Monetary Fund and Assistant Director in the Policy Development and Review Department of the IMF

Domenico Lombardi, editor
President, The Oxford Institute for Economic Policy (OXONIA)

Contents

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Part I Introduction

1 The Role of the IMF in Low‐Income Countries

James M. Boughton (IMF) and Domenico Lombardi (Oxford University and Brookings Institution)

Part II History and Nature of the Role of the IMF in Low‐Income Countries

2 Bretton Woods and the Debate about Development

Harold James (Princeton University)

5 The Role of the IMF in Low‐Income Countries: An Institutional Approach

Domenico Lombardi* (Oxford University and Brookings Institution)

Part III IMF Policies and Financing in Low‐Income Countries

6 Financier or Facilitator? The Changing Role of the IMF in Low‐Income Countries

Graham Bird (University of Surrey) and Dane Rowlands (Carleton University)

9 Debt Relief in Low‐Income Countries: Background, Evolution, and Effects

Graham Bird (University of Surrey) and Robert Powell (IMF)

11 Participation in IMF Programs and Income Inequality

Patrick Conway* (University of North Carolina)

Part IV The Role of Low‐Income Member Countries in the Governance of the IMF

13 Proposing IMF Reforms for Low‐Income Countries

Bessma Momani (University of Waterloo and Centre for International Governance Innovation)

14 Rethinking the Governance of the International Monetary Fund

Abbas Mirakhor (IMF) and Iqbal Zaidi (IMF)*

End Matter