From Suez to Tequila: The IMF As Crisis Manager

July 1, 1997

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Format: Chicago

James M. Boughton From Suez to Tequila: The IMF As Crisis Manager, (USA: International Monetary Fund, 1997) accessed November 8, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The IMF was established in 1944 in part to “give confidence” to member countries by providing short-term credits. Although the intention was that the availability of the Fund’s resources should prevent countries from experiencing financial crises, in practice the institution often has found itself helping its members cope with crises after they occur. This paper examines how the role of the IMF as crisis manager has evolved over time, from its earliest loans to the exchange crisis that hit Mexico in December 1994. It argues that the defining moment for this role was the international debt crisis of 1982.

Subject: Balance of payments, Balance of payments need, Banking, Capital outflows, Credit, Current account deficits, Financial crises, Money

Keywords: Balance of payments, Balance of payments need, Capital outflows, Credit, Crisis management, Crisis manager, Current account deficits, Economic crisis, Exchange market crisis, Financial crises, Financial crisis, Financial history, Fund, Fund lend Mexico, Fund staff, Fund surveillance, Global, Gold market crisis, IMF, International monetary system, Market, WP

Publication Details

Pages:

24
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1997/090
Stock No:

WPIEA0901997
ISBN:

9781451952001
ISSN:

1018-5941

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