At a time when the world is moving toward the market, the bureaucratic response to government induced financial turmoil makes matters worse. The market is far more effective in enforcing conditions, promoting reform, and minimizing the risk of a crisis spreading in the near term or far into the future. The United States and other major donors should reject further funding for the IMF and in that way vote for a more stable and free global economy. That would send a signal to the world that the fund’s resources are not, in fact, unlimited.

More on IMF and the World Bank


Is it ‘Game over’ for Ukraine?

By Richard W. Rahn. Washington Times. December 8, 2014.

The World Bank’s ‘Doing Business’ Should Pick a Methodology and Stick with It

By Dalibor Rohac. Financial Times. November 3, 2014.

IMF Chases Wrong Targets in China

By James A. Dorn. Asia Times. April 3, 2014.

Cato Studies

An International Monetary Fund Currency to Rival the Dollar? Why Special Drawing Rights Can’t Play That Role

By Swaminathan S. Anklesaria Aiyar. Development Policy Analysis No. 10. July 7, 2009.

The False Promise of Gleneagles: Misguided Priorities at the Heart of the New Push for African Development

By Marian L. Tupy. Development Policy Analysis No. 9. April 24, 2009.

Foreign Aid and the Weakening of Democratic Accountability in Uganda

By Andrew Mwenda. Foreign Policy Briefing No. 88. July 12, 2006.


Towards a Better SDDS

Steve H. Hanke. Central Banking. Vol. 14. No. 1. August 2003.

A Shroud of Secrecy

Steve H. Hanke. Central Banking. Vol. 13. No. 1. August 2002.

Currency Boards

Steve H. Hanke. The Annals of the American Academy. No. 579. December 2001.

Public Filings

The International Monetary Fund: Challenges and Contradictions

By Ian Vásquez. Testimony. September 28, 1999.

The International Monetary Fund: Has Congressional Conditionality Made It More Effective?

By Ian Vásquez. Testimony. March 9, 1999.

The IMF and U.S. International Policy

By William A. Niskanen. Testimony. May 5, 1998.

Cato Reviews & Journals

IMF Subsidies, Cancellations, and Resumptions: New Empirical Evidence

Adrian Urbaczka and Roland Vaubel. Cato Journal. Winter 2013.


The 27th Annual Monetary Conference: Restoring Global Financial Stability

Featuring Mark A. Calabria, William Poole, Lawrence H. White, Ian Vásquez, Swaminathan S. Anklesaria Aiyar, Richard W. Rahn, & James A. Dorn. November 19, 2009. Conference.

Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa

Featuring Ian Vásquez. April 3, 2009. Book Forum.

Two Views on Global Development: Revive the Invisible Hand or Strengthen a “Society of States”?

Featuring Deepak Lal. June 7, 2006. Book Forum.