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Redefining the role of international monetary fund in the light of the current economic and financial crisis

Author

Listed:
  • Gheorghe Voinea
  • Sorin Gabriel Anton

    (Finance, Money and Banking Department, Faculty of Economics and Business Administration, Alexandru Ioan Cuza University)

Abstract

By any measure, the current economic recession is the worst since the 1930s. The unprecedented global financial and economic crisis that started in 2007 has had a profound impact on the work of international financial institutions. The reform of the international financial system represents an important topic nowadays. The paper proposes far-reaching reforms of the International Monetary Fund in order to address the global financial crisis. The paper analyses reforms covering following areas: lending framework, the IMF’s lendable resources, creation of a new international reserve currency, enhanced surveillance, and governance.

Suggested Citation

  • Gheorghe Voinea & Sorin Gabriel Anton, 2009. "Redefining the role of international monetary fund in the light of the current economic and financial crisis," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 56, pages 202-209, November.
    • Handle: RePEc:aic:journl:y:2009:v:56:p:202-209
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    References listed on IDEAS

    as
    1. José Ocampo, 2007. "The Instability and Inequities of the Global Reserve System," International Journal of Political Economy, Taylor & Francis Journals, vol. 36(4), pages 71-96.
    2. Stephany Griffith-Jones & José Antonio Ocampo, 2009. "The Financial Crisis and Its Impact on Developing Countries," Working Papers 53, International Policy Centre for Inclusive Growth.
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