Pamphlet Series
No. 46
1992

International Monetary Fund
Washington, D.C.

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ISSN 0538-8759
ISBN 1-55775-228-1

See also:

Conditionality in Fund-Supported Programs



The Unique Nature of the Responsibilities of the IMF
Manuel Guitián

Contents

Prefatory Note

Introduction

Fundamental Character of the Institution
    Basis for Institutional Cooperation
    Key Institutional Functions
    Common and Unique Institutional Thread

Surveillance at the Center
    Mandate and Standpoint of Responsibility
    Fundamental Principles of Operation
    Acknowledgment of Diversity

Surveillance from Other Perspectives
    Jurisdictional Aspects
    Financial Aspects
    Technical Assistance Aspects

Surveillance and Conditionality
    The Bretton Woods Order
    Subsequent Adaptations
    Challenges Ahead

Areas of Risk for the Code of Conduct
    Universality
    Uniformity
    Neutrality

The Code of Conduct in Diverse Circumstances
    Structural Adjustment and Growth
    Capital Flows and External Debt
    Economic Reform

Institutional Implications
    Surveillance
    Conditionality and Terms of IMF Assistance
    A Cooperative Setting

Concluding Remarks

Bibliography


The opinions expressed in the pamphlet are those of the authors and should not be attributed to the Executive Directors of the International Monetary Fund or their national authorities.

Edited by Margaret Karsten

The term "country," as used in this pamphlet, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.

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