This paper discusses, in a very general way, a system of IMF insurance against sovereign default that could be offered … could be priced is also discussed in an appendix. Private lender membership in the IMF is also discussed. This would provide … the IMF with some of the powers that central banks now have. …

The paper shows that an IMF-like coinsurance arrangement among countries can play a useful role in the global financial … system. The operation of the coinsurance arrangement is examined under different loan contracts. It shows that, if the IMF …

of the IMF in light of the past experience in preventing currency crises and a systemic breakdown of the world …’s financial system and points out necessary IMF reforms. It discusses how the IMF should adjust to the structural changes in the …

relation to the requirements of the IMF Code of Good Practices on Fiscal Transparency based on discussions with the authorities …

This paper studies the factors that have influenced countries' participation in IMF drawing programs. IMF drawing …-track, it provides a closer link to the factors that have influenced the evolution of IMF credit outstanding. The analysis uses … determinants of countries' participation in IMF drawing programs. The importance of the global factor is not uniform during the …

of the coinsurance arrangement is examined under different loan contracts offered by the IMF. The analysis suggests that …, if the IMF’s objective is to safeguard its resources and be concerned about the welfare of the borrower, an ex ante loan …