The Independent Evaluation Office (IEO) found major IMF lapses in judgement before the financial crisis, including the promotion of "light-touch regulation", casting doubt on the Fund's ability to contribute to taming global finance.
Conditionality
Analysis
The IMF's new conditionality
18 February 2011
While the 2007-2010 crisis offered the International Monetary Fund an unexpected opportunity to demonstrate that it was serious about changing its emergency lending practices, Daniela Gabor argues that in Eastern Europe the Fund ended up pushing unnecessary fiscal austerity and privileging private financial interests.