1. The role of IMF
At this end of the spectrum, the debate focuses on how to enlarge its role in the global economy in a variety of ways, for instance, as a genuine lender of last resort and as creator of international liquidity through its prototype SDR mechanism (Dollar and Svensson, 1998); as an authority in orderly debt negotiations between creditors, private and official, and their sovereign debtors (Williamson, 2000) ; as an international authority endowed with powers to declare a "standstill" on legal actions that private creditors might take to enforce their claims on sovereign debtors and finally, as ...
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- Approx Pages: 15
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- Grade Level: Undergraduate