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International Monetary Fund. Communications Department
This issue of F&D takes a fresh look at the discipline of economics. We invited prominent economists with different perspectives to tell us how the profession can become better at answering 21st century challenges.
International Working Group on External Debt Statistics
This issue of Finance & Development examines the good and bad sides of globalization. Sebastian Mallaby notes that after decades of increasing cross-border movements of capital, goods, and people, only migration continues apace. Capital flows have collapsed, and trade has stagnated. However, rather than a sign of retreat, trade and finance may be resetting to a more sustainable level consistent with continued globalization. IMF Chief Economist Maurice Obstfeld takes a closer look at trade. Ismaila Dieng profiles Leonard Wantchekon, a former activist who plans to train the next generation of African economists. Wantchekon, now a professor at Princeton University, is one of the few African economists teaching at a top US university. His research, which has received considerable attention from development economists, focuses on the political and historical roots of economic development in Africa.
International Monetary Fund. Research Dept.
In the June 2016 issue of IMF Research Bulletin, Eugenio Cerutti interviews Lars E.O. Svensson. Lars, a professor at the Stockholm School of Economics, was a Visiting Scholar at the IMF. In the interview, he discusses monetary policy, financial stability, and life at the IMF. The Bulletin also features a listing of recent Working Papers, Staff Discussion Notes, and key IMF publications. The table of contents from the latest issue of IMF Economic Review is also included.
International Monetary Fund. Research Dept.
The Q&A in this issue features seven questions about policy options for emerging market countries (by Marcos Chamon, Chris Crowe, and Jun Il Kim); research summaries on “Does Trade and Financial Globalization Cause Income Inequality?” (by Chris Papageorgiou) and “The Current Account of Oil-Exporting Countries (by Irineu E. de Carvalho Filho); an article on the launch of the IMF’s new research journal, IMF Economic Review, and the contents of the upcoming IMF Staff Papers, which the new the new journal will succeed in 2010; an article on the upcoming Tenth Annual Jacques Polak Research Conference; a listing of visiting scholars at the IMF during July–September 2009; and listings of recent IMF Working Papers and Staff Position Notes.
International Monetary Fund. Research Dept.
December 2008: IMF research summaries on global herding in financial markets (by Marco Cipriani) and on fiscal decentralization (by Lusine Lusinyan); article on the experiences of IMF staff at the Nobel Laureate Meetings in Lindau, Germany (by Chris Crowe); listing of visiting scholars at the IMF during August–December 2008; listing of contents of Vol. 55 No. 4 of IMF Staff Papers; listing of recent IMF Working Papers; listing of recent external publications by IMF staff; and a Call for Papers for an upcoming conference on structural reforms.
International Monetary Fund. External Relations Dept.
This paper discusses the launch of the Brandt Commission. The paper highlights that during the week of the Annual Meetings of the Board of Governors of the World Bank and the IMF in Washington, D.C. (September 26–30, 1977), Willy Brandt, former Chancellor of the Federal Republic of Germany, announced that he would head an independent commission that would identify “ways of restructuring international relations that would command the widest possible support.” The Commission will have about 15 members, both from developed and developing countries.
International Monetary Fund. External Relations Dept.
This paper reviews the procurement process under World Bank projects. The paper highlights that the World Bank’s interest in procurement under its loans stems directly from the “project” requirement of its Articles, which stipulates that it should lend for specific projects, except in special circumstances, and that it should ensure that the proceeds of the loan are used only for its specified purpose, with due attention to economy and efficiency. In 1951, the World Bank began introducing international competitive bidding as the normal procedure for procurement of the goods and works needed for its projects.
International Monetary Fund. External Relations Dept.
This paper highlights that the annual meetings of the World Bank and its affiliates, the International Development Association (IDA) and the International Finance Corporation (IFC), and of the IMF, were held in September 1965 in Washington. At the Bank Group meetings, stress was laid on the urgent needs of the less developed countries and on the Group’s plans for increasing its help toward meeting these needs. In his annual address, the President of the three institutions, Mr. Woods, emphasized the widening spectrum of the World Bank’s lending.
International Monetary Fund. External Relations Dept.

Abstract

This paper recognizes the difficulties and problems being faced by member countries under present circumstances and the uncertainties resulting from the strained international situation and rearmament. After the various relaxations and intensifications, there still remains a widespread use of restrictive practices by the IMF’s members. Despite some similarity between the restrictive systems of different countries, there is, as noted, a widespread diversity in the practices of IMF members. Multiple currency practices of many types and a variety of other devices are employed either in isolation or in combination. The purpose of many of the restrictions employed is to cope with balance of payments difficulties of the country imposing them. Some of the difficulties, however, are the result of measures in important export markets. Limitations on imports by one country, through exchange or trade restrictions or other devices, restrict the earnings of other countries and consequently may result in the latter restricting their payments.

International Monetary Fund. External Relations Dept.

Abstract

Annual Report on Exchange Arrangements and Exchange Restrictions 1951