Publication

This conference report focuses on future developments of the IMF in light of the financial crisis that erupted in the US in 2007. This crisis is said to represent a precious opportunity for the IMF to reaffirm its relevance in the 21st century. According to the authors, the IMF's decisiveness in assisting the countries hit by the crisis through the rapid provision of short-term liquidity is a prerequisite for the Fund to restore its legitimacy. However, this opportunity represents a short-term victory if it is not accompanied by deeper reforms in areas like the IMF’s technical and policy advice, its role in international monetary and financial cooperation, its relation with regional initiatives and its governance structure.