IMF Support and Crisis Prevention

By Atish R. Ghosh, Juan Zalduendo, Alun H. Thomas, Jun I Kim, Uma Ramakrishnan, Bikas Joshi

May 16, 2008

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Atish R. Ghosh, Juan Zalduendo, Alun H. Thomas, Jun I Kim, Uma Ramakrishnan, and Bikas Joshi. IMF Support and Crisis Prevention, (USA: International Monetary Fund, 2008) accessed December 3, 2024

Also available in: español

Summary

This paper examines the various roles of IMF financing in crisis prevention. Emerging market economies that experienced financial crises in the past have been subject to enormous economic and social costs, highlighting the importance of crisis prevention. While the main defense against a crisis lies in a country’s own policies and institutional framework, the IMF can contribute to these efforts through its surveillance activities, provision of technical assistance, and promotion of standards and codes. But the IMF may be able to contribute to crisis prevention more directly by providing contingent financial support. This paper explores the theoretical basis of, and empirical evidence for, possible “crisis prevention programs.”

Subject: Balance of payments, Capital account crisis, Central banks, Crisis prevention, Financial crises, Financial statements, International reserves, Public financial management (PFM)

Keywords: Africa, Balance sheet weakness, Capital account crisis, Crisis, Crisis prevention, East Asia, Financial statements, Financing, IMF disbursement, IMF financing variable, IMF support, International reserves, Market, OP, Precautionary program

Publication Details

Pages:

33
Volume:

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DOI:

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Issue:

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Series:

Occasional Paper No. 2008/004
Stock No:

S262EA
ISBN:

9781589067097
ISSN:

0251-6365

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