The integration of financial markets around the world over the past decade has posed new challenges for policymakers. The speed with which money can be switched in and out of currencies and countries has increased with the efficiency of global communications, considerably shortening the time...

Against the background of the changing international economic environment, this pamphlet examines the general rationale for IMF financial support and the relationship between such support and IMF surveillance in carrying out the IMF's responsibility to seek to avoid and help to correct...