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This
paper discusses extensively how the IMF
must substantially reform itself to be
able to ensure its legitimacy as a genuinely
multilateral institution, and one that
can effectively prevent crises. A genuine
reform of the IMF would require as much
a redirection of its activities as improvements
in its policies and operational modalities.
It must cease to depend on a few countries
for resources and there should be a clear
separation between multilateral and bilateral
arrangements in debt and finance.
November
08, 2005.
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