Executive Summary
Author:
Mr. Kevin Barnes
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Mr. Ali M. Mansoor
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Mr. Benjamin H Cohen
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Shinji Takagi https://isni.org/isni/0000000404811396 International Monetary Fund

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Language:
English
Print Publication Date:
03 Sep 2003
Keywords:
IEOR; IEO; crisis; fund staff; fund; IMF surveillance; policy discussion; Board discussion; IMF support; Capital account crisis; Exchange rates; Bank resolution; East Asia; Global; Asia and Pacific; Southeast Asia; South Asia

Abstract

This report evaluates the role of the IMF in three recent capital account crises, in Indonesia (1997–98), Korea (1997–98), and Brazil (1998–99). These crises have been the subject of extensive external commentary and have also been studied in detail by IMF staff. A number of important lessons have already been learned and corresponding corrective steps taken in the form of revised IMF policies and procedures. Nevertheless, it is appropriate for the Independent Evaluation Office (IEO) to conduct an independent assessment of the role of the IMF in these crises, taking advantage of its unique access to internal IMF documents while also taking note of earlier work where relevant. The evaluation seeks to draw lessons for the IMF, supplementing those that have already surfaced, and also to contribute to transparency by evaluating the internal processes by which important decisions were made.

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Cover The IMF and Recent Capital Account Crises
The IMF and Recent Capital Account Crises
Indonesia, Korea, Brazil
ISBN:
9781589061880
ISSN:
2617-670X
Publication Date:
03 Sep 2003
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589061880.017
Pages:
173

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