The IMF was established with a purpose that was as much political as it was economic. It was designed to legitimate the international monetary system. It would give states incentives to stay internationally engaged and provide a forum for debate on system management. Debate would take place within a legal framework, setting out the core obligations that shaped the system. That system would introduce new flexibility and security into the system so that states had greater incentives to stay engaged.
KeywordsInstitutional Reform Capital Control Domestic Politics International Monetary System Poverty Reduction Strategy Paper
Unable to display preview. Download preview PDF.