Business Standard

Where in the world is the IMF?

It is not a central player today as the world deals with inflation and financial instability and countries hurtle towards debt crisis. It must be revamped and strengthened to play that role

IMF, International Monetary Fund

Ajay Chhibber
Just like the World Bank is missing in action on climate change, its Bretton Woods twin the International Monetary Fund (IMF) is missing in action on its main function: Surveillance of the global monetary and financial system. With the world financial markets rattled again by banking failures in the US and debt distress in emerging markets as interest rates rise to tackle inflation, the IMF is not a central player today. It has, instead, spent much of its energy trying to develop new instruments to help emerging market economies deal with crises and low-income countries reduce poverty and raise growth,
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of or the Business Standard newspaper

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First Published: Mar 28 2023 | 10:58 PM IST

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