ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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The Future of the International Monetary Fund

Are our international financial institutions fit for the future? This is a question being asked at the annual meeting of the International Monetary Fund in Marrakesh. If one wants to think deeply about the IMF’s future, one need to go no further than to consider its past. Those assembled at Bretton Woods in 1944 were haunted by the memory of the beggar-thy-neighbour policies that contributed to the Great Depression and the march towards war. But much has passed since and ambition has been lost. Here are five things it could do today to make our international financial system better suited for an age of global shocks and crises, more symmetrical and better able to drive financial flows towards development.

 

Role of International Financial Institutions in Pandemic Treaty

The COVID-19 pandemic has pushed the global economy into a multisectoral crisis. The situation demanded that nation states respond swiftly by formulating funding mechanisms. However, most economies lacked adequate funds for the pandemic response, which led to the international financial institutions’ involvement in the response and recovery operations. This article delves into the various measures taken by the IFIs during the pandemic by inspecting them through a theoretical lens of liberal institutionalism, which emphasises collective and coordinated action.

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