Finance, Development, and the IMF

James Boughton is Historian of the International Monetary Fund and, since 2001, Assistant Director in the Strategy, Policy, and Review Department at the IMF. From 1981 until he was named Historian in 1992, he held various positions in the IMF Research Department. Dr. Boughton holds a Ph.D. in economics from Duke University, and before joining the IMF staff, he was Professor of Economics at Indiana University and had served as an economist at the OECD in Paris. His publications include a textbook on money and banking, a book on the U.S. Federal funds market, two IMF books that he co-edited, and articles in professional journals on international finance, monetary theory and policy, international policy coordination, and the history of economic thought. Domenico Lombardi is President of The Oxford Institute for Economic Policy (OXONIA). Dr. Lombardi is an Associate Faculty Member at Nuffield College, a Senior Research Associate with the Global Economic Governance Programme as well as the Department of International Development at Queen Elizabeth House, and a Research Member at Exeter College, Oxford University. Previously a Visiting Scholar at The Institute for Fiscal Studies, London, he has advised the Executive Boards of the International Monetary Fund and the World Bank. Dr. Lombardi is a member of leading policy fora including the Brookings Institution and the Bretton Woods Committee's International Council, is a Managing Editor of World Economics and sits on the editorial boards of various journals. His academic research addresses a number of policy-related questions in macroeconomics and international economics.

• INTRODUCTION; FOREWORD; HISTORY AND NATURE OF THE ROLE OF THE IMF IN LOW-INCOME COUNTRIES; IMF POLICIES AND FINANCING IN LOW-INCOME COUNTRIES; THE ROLE OF LOW-INCOME MEMBER COUNTRIES IN THE GOVERNANCE OF THE IMF