Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...

Examines the issue of moral hazard inrelation to IMF loans to countries in financial difficulties. Concerns about moral hazard have had a prominent place in recent discussions on how the architecture of the international financial system should be reformed and what the IMF’s role should be