Argentina's Bargaining with the IMF

1987 ◽  
Vol 29 (3) ◽  
pp. 55-86 ◽  
Author(s):  
Kendall W. Stiles
Keyword(s):  
International Monetary Fund ◽  
Political Connections ◽  
Member States ◽  
Political Perspective ◽  
The World ◽  
The International Monetary Fund ◽  
The Imf ◽  
Adjustment Programs

The International Monetary Fund (IMF) recently published a pamphlet on the question of whether the IMF, as an institution, imposes austerity on debtors. The response focused on the second half of the question and argued that IMF adjustment programs were, in fact, not systematically austere. However, from a political perspective, the first half of the question is much more provocative. Does the IMF “impose” its will on member states, and, if so, how? Many have argued i that, by virtue of its political connections with the financial centers of the world and its intellectual sophistication, the so-called “negotiations” which debtor nations conduct with Fund staff, prior to the drafting of an agreement on lending conditions, is little more than an exercise in coercion on the part of the Fund.

The International Monetary Fund and the Chilean Chicago Boys, 1973–7: Cold Ties between Warm Ideological Partners

2017 ◽  
Vol 54 (1) ◽  
pp. 179-201 ◽  
Author(s):  
Claudia Kedar
Keyword(s):  
Latin America ◽  
International Monetary Fund ◽  
Latin American ◽  
Modus Operandi ◽  
Member States ◽  
Augusto Pinochet ◽  
Fruitful Cooperation ◽  
The International Monetary Fund ◽  
Different Levels ◽  
The Imf

This article unveils the hitherto overlooked tensions between Chile and the International Monetary Fund (IMF) during the formative years of the dictatorship of General Augusto Pinochet (from September 1973 to late 1977). This article shows that ideological affinity between the IMF and Pinochet’s economic team of ‘Chicago Boys’ did not necessarily guarantee fruitful cooperation between the parties. The analysis of this intricate relationship sheds new light on the processes of economic neoliberalization that were conducted in Latin America, with different levels of IMF involvement, between the 1970s and the 1990s. By challenging axiomatic and simplistic approaches of IMF–Latin American relations, this article provides a unique prism to reconsider not only the IMF’s motivations and constraints, but also the proactive modus operandi of its borrowing member-states.

scholarly journals Challenges of Introducing Islamic Banking to the Global Financial Market

2018 ◽  
Vol 8 (3) ◽  
pp. 243
Author(s):  
Tahmoures A. Afshar ◽  
Majed R. Muhtaseb
Keyword(s):  
Financial Markets ◽  
International Monetary Fund ◽  
Financial Market ◽  
Islamic Finance ◽  
Islamic Banking ◽  
Banking And Finance ◽  
The World ◽  
The International Monetary Fund ◽  
The Imf

In November 2015, the International Monetary Fund (IMF) decided to add Islamic finance to its monitoring of financial sectors around the world. The IMF traditionally has focused on conventional banking but recently it has become interested in Islamic banking and finance due to its phenomenal growth. Islamic banking assets exceed $2 trillion globally. This decision of the IMF has brought tremendous opportunity for Islamic banking constituents all over the world. However, many practitioners and supervisory authorities may not be aware of the fundamental differences between Islamic and conventional banking. This paper attempts to identify the major differences between the Conventional and Islamic Banking, and discuss the challenges of integrating Islamic banking and finance into the global financial markets.

scholarly journals Friends or foes? Brazil, the IMF and the World Bank, 1961–1967

2021 ◽  
pp. 1-32
Author(s):  
Carlo Edoardo Altamura ◽  
Claudia Kedar
Keyword(s):  
World Bank ◽  
International Monetary Fund ◽  
Military Coup ◽  
The World Bank ◽  
The World ◽  
The Difference ◽  
The Right ◽  
The Military ◽  
The International Monetary Fund ◽  
The Imf

Between June 1959 and March 1964, the democratic governments of Brazilian presidents Juscelino Kubitschek (January 1956 – January 1961), Janio Quadros (January–August 1961), Ranieri Mazzilli (August–September 1961) and João ‘Jango’ Goulart (September 1961 – April 1964) received no support from the World Bank (WB), which refused to fund even a single new project during this period. During this same period, and, more specifically, between July 1958 and January 1965, the International Monetary Fund (IMF), the WB's twin institution, granted financial assistance to Brazil only twice: a controversial and highly conditional Stand-By Arrangement (SBA) signed in May 1961; and a non-conditional and automatically approved Compensatory Financial Facility (CFF), granted in May 1963 to compensate Brazil for the decrease in coffee prices on the international market. This attitude towards Brazil changed significantly following the military coup of March 1964. Money flowed into the country and by 1970 Brazil had become the largest receiver of WB funds and a chronic borrower from the IMF, signing two SBAs in 1965, and one per year between 1966 and 1972. We use recently disclosed material from the International Monetary Fund and the World Bank archives to analyse the relationship of these two institutions with Brazil and to foster the debate on their political neutrality, arguing that the difference in the IMF's and especially the WB's relations with the military regime reflected, more than anything else, the existence of an ideological affinity between the parties with regards to the ‘right’ economic policy.

scholarly journals International Monetary Fund Annual Report 2020

2020 ◽  
Author(s):  
Keyword(s):  
International Monetary Fund ◽  
World Economy ◽  
Annual Report ◽  
The World ◽  
The International Monetary Fund ◽  
The Imf

This year, as the world faced a crisis like no other, the International Monetary Fund and its member countries swung into action to save lives and put a floor under the world economy. But the outlook remains uncertain. Countries now face a “long ascent” that will be difficult, uneven, uncertain, and prone to setbacks. The IMF is working to help countries focus on "policies for people" to generate a transformational recovery through job-rich growth that benefits all.

scholarly journals ACTIVITY OF INTERNATIONAL FINANCIAL INSTITUTES AND THEIR PARTICIPANTS OF THEIR RELATIONS WITH UKRAINE

2019 ◽  
Keyword(s):  
International Monetary Fund ◽  
Financial Market ◽  
Financial Institutions ◽  
Technical Assistance ◽  
Financial Institution ◽  
Financial System ◽  
International Financial Institutions ◽  
The World ◽  
The International Monetary Fund ◽  
The Imf

The article deals with the peculiarities of the activities of international financial institutions and their relationship with Ukraine in modern conditions. The main goals and directions of the activities of key international financial institutions, such as the International Monetary Fund, the World Bank, are specified. It is noted that in the context of globalization their role and significance grows, because they are supranational regulators that affect financial security of both the individual countries of the world and security of the world financial market as a whole. The main reasons for the emergence of international financial institutions and the basic goals of their activities are systematized. The International Monetary Fund is the main international financial institution, which is the institutional basis of the world monetary and financial system. The IMF assesses the sufficiency of the global financial protection system, provides economic supervision and control over the safe operation of the global monetary and financial system, and should respond to emerging problems and imbalances in a timely manner, providing the necessary funding and technical assistance to countries under the approved arrangements. The analysis of the statistics on loans provided by the IMF within various lending mechanisms, the analysis of the state of the world 's debts to the IMF in the context of its privileged and non – beneficial loans, the peculiarities of the IBRD' s relations with the member countries are analyzed and there are identified current trends in this direction. The key problems and challenges in the work of international financial institutions are formulated and prospective ways of their development are defined, the use of which will promote both optimization of their activities and strengthening the security of the world financial market.

scholarly journals Trade in Financial Services—Has the IMF been Involved Constructively?

2011 ◽  
Vol 5 (1) ◽  
pp. 65-92
Author(s):  
Robert M. Stern
Keyword(s):  
Financial Services ◽  
World Trade ◽  
World Trade Organisation ◽  
Policy Issues ◽  
The World ◽  
Key Policy ◽  
Accession Process ◽  
Financial Liberalisation ◽  
The International Monetary Fund ◽  
The Imf

This paper considers the key policy issues related to liberalisation of trade in financial services that the International Monetary Fund (IMF) should be concerned with, and the role the IMF has played in advising on policies related to trade in financial services in its bilateral and multilateral surveillance and in conditionality attached to lending programmes. The IMF staff were generally aware of the literature and country experiences showing the benefits of financial liberalisation. But Fund advice in support of liberalisation can be best interpreted to be in support of country unilateral policy actions and the dynamics of the World Trade Organisation (WTO) accession process.

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