International Lender of Last Resort

8 Pages Posted: 30 Mar 2000

See all articles by Jeffrey A. Frankel

Jeffrey A. Frankel

Harvard University - Harvard Kennedy School (HKS); National Bureau of Economic Research (NBER)

Date Written: June 25, 1999

Abstract

This comment discusses the issues regarding the scale of conditional finance offered by the International Monetary Fund in recent rescue packages, and the related issues regarding a true lender of last resort. It reviews critiques of the Fund?s performance in recent emerging-market crises, noting that they come from opposite directions.

JEL Classification: F34

Suggested Citation

Frankel, Jeffrey A., International Lender of Last Resort (June 25, 1999). Available at SSRN: https://ssrn.com/abstract=209318 or http://dx.doi.org/10.2139/ssrn.209318

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