As linchpin of the global financial system, the International Monetary Fund provides balance of payments support, chiefly to developing countries, conditional on strict remedial policy measures. Its approach to policy remains highly controversial, however. While the Fund claims it has adapted,...

This book, edited by Tony Killick, consists of papers presented at a seminar sponsored jointly by the IMF and the Overseas Development Institute, held in London, England, to discuss the problems facing the developing world in a global environment of high inflation rates and large payments imbalances