THE IMF AT 75

Lord Keynes Pays a Visit

Atish R. Ghosh

A distinguished figure from the past appears at the IMF on its 75th anniversary

Straight Talk: Updating Bretton Woods

Christine Lagarde

In a letter to the next generation, Christine Lagarde calls for a renewed commitment to global economic cooperation

Rising Tide

Raghuram Rajan

Global cooperation is needed to reap the benefits and avoid the pitfalls of cross-border capital flows

The Future of Trade

Pinelopi Koujianou Goldberg

Policy can play a role in shaping the future of the ailing multilateral trade system

The IMF Can (and Must) Disrupt Itself

Mohamed A. El-Erian

In a rapidly changing world, the IMF needs member country support

A Digital Africa

Vera Songwe

Technology can be a springboard for faster, more inclusive growth

Reimagining the IMF

Adam Tooze

In the postcrisis world, the Fund must move beyond its role as lender of last resort

ALSO IN THIS ISSUE

The Specter of Versailles

Barry Eichengreen

The conference that ended World War I was followed by an inward turn that has parallels today

China’s Ascent

Keyu Jin

The rise of China will have far-reaching consequences—the world should get ready

Toward a Multipolar System

Emmanuel Farhi

We must prepare for a possibly turbulent transition to a new international monetary
system

Globalization and Narcos

Melissa Dell

Manufacturing job loss resulting from international competition can carry large social costs

A Solution to Sudden Stops

Ricardo Reis

The IMF and central banks should work together to resolve financial crises

Invisible Links

David Dollar

Value chains transform manufacturing—and distort the globalization debate

Editor's Letter

Changing with the Times

If Lord Keynes, who helped usher in the post–World War II economic order at the Bretton Woods conference, visited the IMF today, he would be astonished at the institution’s evolution.

In the Trenches

Open for Business

Clare Akamanzi explains how Rwanda is encouraging private sector development

Book Reviews

The Bretton Woods Agreements , Naomi Lamoreaux and Ian Shapiro, eds.

The Central Asian Economies in the Twenty-First Century: Paving a New Silk Road , Richard Pomfret

Dark Matter Credit: The Development of Peer-to-Peer Lending and Banking in France , Philip T. Hoffman, Gilles Postel-Vinay, and Jean-Laurent Rosenthal

Macroeconomics for Professionals: A Guide for Analysts and Those Who Need to Understand Them , Leslie Lipschitz and Susan Schadler

Currency Notes

The Boom in Benjamins

What makes the US$100 bill so popular?

Melinda Weir