Why The IMF And The International Monetary System Need More Than Cosmetic Reform
Source: South Centre
On its website, the International Monetary Fund (IMF) defines its main purpose as the provision of "The global public good of financial stability". As spelled out in its Articles of Agreement, this requires a stable system of exchange rates, sustainable current account balances and orderly currency and balance-of-payments adjustments. To achieve this, Fund undertakes economic and financial surveillance at the national and global levels, provides policy advice to its members, and lends to those facing external payment difficulties in order to facilitate adjustment.