IMF review of institutional view on capital controls disappoints as it largely maintains the policy framework of its predecessor
Capital flows
Finance
Analysis
Debt crisis prevention: We need to talk about capital controls
IMF's position on capital controls must be revised to recognise that they are an essential and permanent macroeconomic tool necessary to increase countries' policy autonomy and enable them to act counter-cyclically and to prevent future debt crises.
Finance
News
Evaluation finds IMF advice on capital controls lacking empirical support
IMF’s Independent Evaluation Office suggests that Fund guidelines are too restrictive and recommends a refresh in light of recent experience and research.
Finance
Analysis
World Bank’s rating obsession will negate debt justice
The international financial system’s reliance upon credit ratings – usually based on dubious premises – needs urgent rethinking.
Finance
Analysis
What is left of the rise of the South?
While the recent reforms to the IMF and World Bank governance reforms and the establishment of new Southern-led IFIs are symbolically important, they are thus far not a rupture with the Western-dominated international financial architecture.
Finance
News
IMF reopening case for capital controls?
An IMF policy paper on the international monetary system considers its future policy on capital controls and proposes a review of the IMF's institutional view on the liberalisation and management of capital flows.
Finance
Analysis
UN Financing for Development: the Fund and Bank's role & influence
This briefing analyses the role of the Bank and Fund in the UN Financing for Development negotiations.
Private Sector
Analysis
Follow the money
New Bretton Woods Project report reveals World Bank Group channelling crucial development resources to banks instead of directly investing in pro-poor projects.
Finance
Background
Financial tremors in developing countries: is another earthquake on the way?
Aldo Caliari Monetary policy changes in rich world are now starting – the reversal of…
Conditionality
Analysis
IMF blames the victims as markets thow another taper tantrum
As emerging markets suffer renewed bout of financial volatility, risk of worse to come as IMF struggles to provide even-handed global policy coordination.
Featured briefings
6 April 2023
World Bank and IMF Spring Meetings 2023
5 April 2023
The IMF at the 75th anniversary of the Universal Declaration of Human Rights: The need for governance reform
As the world celebrates the 75th anniversary of the Universal Declaration of Human Rights, it is time the IMF’s shareholders use the opportunities provided by the anniversary and growing calls for reforms to the international financial architecture to redesign the IMF’s governance structures and programmes to ensure they are consistent with the commitments outlined in 1948 and with international human rights law.
5 April 2023
The global financial architecture and the international debt crisis: An urgent call for reform
Influence of unreformed international financial institutions and creditor interests in debt solutions in low- and middle-income countries plagued by delay and ineffective when undertaken.