{"id":3671,"date":"2019-07-22T05:21:34","date_gmt":"2019-07-22T05:21:34","guid":{"rendered":"http:\/\/euromenaenergy.com\/?p=3671"},"modified":"2019-07-22T05:21:34","modified_gmt":"2019-07-22T05:21:34","slug":"a-reform-opportunity-for-the","status":"publish","type":"post","link":"https:\/\/emimer.com\/?p=3671","title":{"rendered":"A Reform Opportunity for the IMF"},"content":{"rendered":"

\n

The departure of Christine Lagarde from the helm of the International Monetary Fund represents a golden opportunity to put the institution on a path toward a more effective and inclusive future. What should her successor’s priorities be?<\/p>\n<\/div>\n

\n

NEW YORK \u2013 This month marks the 75th anniversary of the signing of the\u00a0Bretton Woods agreement, which established the International Monetary Fund and the World Bank. For the IMF, it also marks the start of the process of selecting a new managing director to succeed\u00a0Christine Lagarde, who has\u00a0resigned\u00a0following her\u00a0nomination\u00a0to be European Central Bank president. There is no better moment to reconsider the IMF\u2019s global role.<\/p>\n

The most positive role that the IMF has played throughout its history has been to provide crucial financial support to countries during balance-of-payments crises. But the conditionality attached to that support has often been controversial. In particular, the policies that the IMF demanded of Latin American countries in the 1980s and in Eastern Europe and East Asia in the 1990s saddled the Fund\u2019s programs with a stigma that triggers adverse reactions to this day.