Role of the IMF in the Global Financial Crisis

16 Pages Posted: 19 Apr 2013

See all articles by Miranda Xafa

Miranda Xafa

International Monetary Fund (IMF)

Date Written: October 19, 2011


In this article, I review the role of the IMF in the global crisis and argue that the Fund has emerged as a powerful institutional force, providing analysis and recommendations that have served as the basis of official action on several fronts. By contrast, the Fund was barking up the wrong tree when it focused its attention on the global imbalances and adopted the Surveillance Decision in the run-up to the crisis in 2006-07.

Keywords: global economic crisis, international financial crisis, International Monetary Fund policy, Great Recession, asset bubbles, avoiding a financial crisis

JEL Classification: N22, N24, O16, G01, G15, F53

Suggested Citation

Xafa, Miranda, Role of the IMF in the Global Financial Crisis (October 19, 2011). Cato Journal, Vol. 30, No. 3, 2010, Available at SSRN:

Miranda Xafa (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

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