The Changing role of the IMF

Abstract

In this study, requirements o f the international monetary system and evolution o f the IMF's role in the system are studied. The IMF's role changed over the past years by force o f circumstances, moved towards long term lending, and recently involved in the negotiations o f debt reschedulings with cred itor banks. For this, it is criticised to have broken away from the principles o f the Bretton Woods conference where it was conceived. Recently, the IMF's role and functions become controversial· particu larly by high-debt developing countries.