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A Blueprint for IMF Reform: More than just a Lender *
Author(s) -
Eichengreen Barry
Publication year - 2007
Publication title -
international finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.458
H-Index - 39
eISSN - 1468-2362
pISSN - 1367-0271
DOI - 10.1111/j.1468-2362.2007.00203.x
Subject(s) - blueprint , law and economics , political science , economics , art , visual arts
The International Monetary Fund (IMF) is in the throes of an existential crisis. Emerging markets have accumulated international reserves several times the Greenspan–Guidotti benchmark of the value of short-term foreign debt in order to guarantee that they will never again have to procure assistance from the Fund. The ASEAN13 countries have committed to transforming the Chiang Mai Initiative of bilateral swaps and credits into a regional reserve pool to ensure that if Asian countries again require financial