Developing Countries and the Global Financial System

image of Developing Countries and the Global Financial System

This book presents the main papers and principal discussion points of a conference held in June 2000, organised jointly by the Commonwealth Secretariat, the World Bank and the IMF. The key aim was to provide policy-makers from developing countries with a forum in which to express their views on a new design of international financial architecture more appropriate to the needs of the twenty-first century. Two related themes were the examination of the critical role of the IME and the World Bank in promoting growth and development and whether international standards and regulatory bodies operate in such a way that they help rather than hinder development of the financial system. This book looks at how these and other issues relating to the global financial system impact on the developing world.



The Role of the IMF: A Guide to the Reports

Many of the discussions on a new international financial architecture that were spawned by the East Asian crisis have dealt with the future role of the IMF. This paper starts by summarising the recommendations of five recent reports and one speech, and the reasoning that lies behind them. The recommendations are divided into four main areas: (i) the scope of Fund activities; (ii) surveillance; (iii) lending; and (iv) governance (on which topic a recent academic paper is also summarised).


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