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Title
Dealing with country diversity: challenges for the IMF credit union model.
Abstract
The article presents an overview of a study which assesses the efficiency of the International Monetary Fund's (IMF) lending framework. A theoretical model of the IMF as a credit union is used, in which the membership decides collectively by a vote on the size of the Fund and the amount of crisis lending it can provide. It is concluded that the framework governing the Fund's lending operations may no longer be appropriate.