IMF Managing Director Horst Koehler was reported as backing an independent Asian Monetary Fund when he visited Malaysia early September. The idea emerged during the Asian crisis in the late 1990s and gained momentum in Asian capitals but was strongly opposed by the US. “I think it’s stupid that when the idea first came up, there was such hostility” said Koehler who also praised Malaysia for its heterodox management of the Asian crisis, which included a currency peg to the US dollar and hotly-debated capital controls. Malaysia’s recovery was quicker than its neighbours’.
New IMF gender guidance opportunity for civil society to keep its staff to account.
BWP publishes essay series reflecting on the legacy of 75 years of IMF and World Bank policies and power.
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