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Law and Policy of IMF Conditionality

ISBN13: 9789041102119
ISBN: 9041102116
Published: April 1996
Publisher: Brill Academic Publishers
Format: Hardback
Price: £181.00

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IMF conditionality has been severely criticised by developing countries, who accuse the Fund of unjustly provoking political turmoil and causing poverty. This refers to the policies that a member country is required to follow in order to be able to use the Fund's resources. Conditionality is legally based on the requirement to adopt ""adequate safeguards"" for the use of resources as stipulated by the IMF's Articles of Agreement.;This work focuses on legal implications and policy aspects and, more specifically, on the question of how far-reaching the requirement of ""adequate safeguards"" may be. Furthermore, the author demonstrates that conditionality is also affected by co-operative arrangements with other institutions, such as the World Bank and United Nations. A conclusion is that there should be improvements in co-operation and in the monitoring of the application of Fund law on conditionality.;Scholars and students who take an interest in international economic relations should find this book an opportunity to study the legal framework of conditionality. Government officials preparing for negotiations with the Fund should also benefit from reading this work.

I. Introduction and Conclusions. II. Institutional Structure and Functions. III. Evolution of Conditionality. IV. Codification of Policy: Guidelines on Conditionality. V. Reinterpretation of Aims. VI. Conditionality and International Cooperation. VII. Interpretation and Dispute Resolution.