The IMF stands at a crossroad. Derided as increasingly irrelevant in the first decade of the new millennium, the Fund has had its power and prestige restored by the fallout from the 2008 global financial crisis. But will the resurgent IMF assert a more just and sustainable macroeconomic model and provide a voice for poor and marginalized people around the globe? Or will enduring weaknesses within the IMF mean it fails to address these issues? In this book, Bessma Momani and Mark R. Hibben dissect the variables and institutional dynamics at play in IMF governance, surveillance, lending, and capacity development to expose the fundamental barriers to change. Identifying four areas that could fix the IMF, they show how these genuine and workable solutions can give the IMF the effectiveness and legitimacy it needs to positively shape twenty-first-century global governance and push back against volatile and regressive forces in the international political economy.

The IMF stands at a crossroad. Derided as increasingly irrelevant in the first decade of the new millennium, the Fund has had its power and prestige restored by the fallout from the 2008 global financial crisis. But will the resurgent IMF assert a more just and sustainable macroeconomic model and provide a voice for poor and marginalized people around the globe? Or will enduring weaknesses within the IMF mean it fails to address these issues?In this book, Bessma Momani and Mark R. Hibben dissect the variables and institutional dynamics at play in IMF governance, surveillance, lending, and capacity development to expose the fundamental barriers to change. Identifying four areas that could "fix" the IMF, they show how these genuine and workable solutions can give the IMF the effectiveness and legitimacy it needs to positively shape twenty-first-century global governance and push back against volatile and regressive forces in the international political economy.

PREFACELIST OF ABBREVIATIONSLIST OF FIGURES, TABLES, PLATESACKNOWLEDGEMENTSDEDICATIONPART 1: DIAGNOSING THE ILLSCHAPTER 1: WHAT IS WRONG WITH THE IMF?CHAPTER 2: GOVERNANCE AND DECISION-MAKINGCHAPTER 3: SURVEILLANCECHAPTER 4: LENDING AND CONDITIONALITYCHAPTER 5: CAPACITY DEVELOPMENTPART 2: FINDING A CURECHAPTER 6 DEMOCRATIZE GOVERNANCE AND DECISION MAKINGCHAPTER 7 DIVERSIFY THE IMF STAFFCHAPTER 8 COMMIT TO INCLUSIVE GROWTHCHAPTER 9 ENHANCE MULTILATERAL PARTNERSHIPSCHAPTER 10 CLOSING THE HYPOCRISY GAPREFERENCESINDEX