Skip to main content

The Global Financial Crisis and the Reforms to IMF Lending

Buy Article:

$31.54 plus tax (Refund Policy)

Abstract:

The global financial crisis of 2007–09 has spurred a number of reforms to the International Monetary Fund's (IMF) lending toolkit, including the use of ex ante conditionality to make crisis prevention instruments available to member countries. These reforms have led to the creation of new credit lines and the enhancement of High-Access Precautionary Arrangements (HAPAS) in Stand-By Arrangements (SBA). By analyzing the changes to IMF lending, the paper pursues a twofold objective. On the one hand, the analysis assesses the extent of change brought about by the most recent reforms. In other words, the paper attempts to assess what is truly new among the Fund's recent reforms. On the other hand, the paper speculates on the implications of these reforms to the IMF's role as a lender of last resort.

Document Type: Research Article

Publication date: 2011-05-01

More about this publication?
  • The St Antony's International Review (STAIR) is the only peer-reviewed journal of international affairs at the University of Oxford. Set up by graduate students of St Antony's College in 2005, the Review has carved out a distinctive niche as a cross-disciplinary outlet for research on the most pressing contemporary global issues, providing a forum in which emerging scholars can publish their work alongside established academics and policymakers. Past contributors include Robert O. Keohane, James N. Rosenau, and Alfred Stepan.
  • Editorial Board
  • Information for Authors
  • Submit a Paper
  • Subscribe to this Title
  • Information for Advertisers
  • Order hard copies of STAIR
  • Ingenta Connect is not responsible for the content or availability of external websites
  • Access Key
  • Free content
  • Partial Free content
  • New content
  • Open access content
  • Partial Open access content
  • Subscribed content
  • Partial Subscribed content
  • Free trial content
Cookie Policy
X
Cookie Policy
Ingenta Connect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more