A Blueprint for IMF Reform: More than just a Lender.

The article examines the reforms made by the International Monetary Fund (IMF) regarding their credit policies for emerging market borrowers. Several factors were taken into account including the Greenspan-Guidotti benchmark, Chiang Mai Initiative of bilateral swaps and reserve accumulation in Latin America. As of Spring 2007, the credit outstanding to emerging market borrowers has been listed to be approximately at 12 billion special drawing rights (SDR). Key information about the Fondo Latinamericano de Reservas (FLAR) in Latin America is presented.