This report evaluates the role of the IMF in three capital account crises, in Indonesia (1997-98), Korea (1997-98), and Brazil (1998-99), and the lessons to be drawn from the experience. It also recommends steps aimed at making the IMF’s surveillance and program design more effective in the...

This report evaluates the role of the IMF in Argentina during 1991-2001, focusing particularly on the period of crisis management from 2000 until early 2002. The primary purpose of the evaluation is to draw lessons for the IMF in its future operational work. The evaluation suggests ten lessons,...