How Should IMF Resources Be Expanded?
Desmond Lachman | Conference on the IMF
September 23, 2005
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Among the more striking aspects of the IMF is how little its financial structure has changed since its inception in 1944. For while over the past sixty years the world economy has changed beyond recognition, the IMF has retained its basic structure as an international financial cooperative. Within that structure, IMF member countries’ borrowing rights and voting power are determined by their quota contributions. At the same time, the predominant way in which the IMF’s expanded lending operations continue to be funded is through periodic increases in its members’ quota contributions.

Desmond Lachman is a resident fellow at AEI.

About the Author

 

Desmond
Lachman
  • Desmond Lachman joined AEI after serving as a managing director and chief emerging market economic strategist at Salomon Smith Barney. He previously served as deputy director in the International Monetary Fund's (IMF) Policy Development and Review Department and was active in staff formulation of IMF policies. Mr. Lachman has written extensively on the global economic crisis, the U.S. housing market bust, the U.S. dollar, and the strains in the euro area. At AEI, Mr. Lachman is focused on the global macroeconomy, global currency issues, and the multilateral lending agencies.
  • Phone: 202-862-5844
    Email: dlachman@aei.org
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