The IMF's New Toolkit: New Opportunities, Old Challenges
John Feffer (Ed.), Washington, D.C.: Foreign Policy in Focus, September 2009
Martin S. Edwards, Ph.D. School of Diplomacy and International Relations
The onset of the global economic crisis has reinvigorated the International Monetary Fund (IMF). The G-20 London summit drastically increased the Fund's resources and asserted its importance as a global economic repairman.
The Fund has responded to this vote of confidence by adding new lending facilities to its toolkit. New Fund programs focusing on crisis prevention presage a new collaborative relationship between the Fund and its member countries. Forging this new partnership, however, will require the IMF to heed its own advice.