This paper reviews the International Monetary Fund (IMF) policy advice to emerging market economies (EMEs) during the 2008-09 crisis, contrasting it to previous crisis episodes. EMEs that had strong fundamentals, and were mainly affected through international trade and financial spillovers, were...

[eng] Policy advice to emerging market countries in the current crisis : what’s new ? what’s different ? why ? . IMF policy advice to EMEs in this crisis has been differed from that provided in previous EME crises. But these differences are largely driven by changed circumstances. Many EMEs...