| ID | 078980 |
| Title Proper | Legitimacy dilemmas |
| Other Title Information | the IMF's pursuit of country ownership |
| Language | ENG |
| Author | Best, Jacqueline |
| Publication | 2007. |
| Summary / Abstract (Note) | There can be little doubt that the International Monetary Fund is currently facing a serious challenge to its legitimacy. Such criticisms echo similar debates that have surrounded other international organisations, including the World Bank, the United Nations and the World Trade Organization. As these different institutions seek to respond to this challenge, the Fund's efforts to respond to its critics provide a number of interesting lessons and warnings. In this article I examine the Fund's response to challenges to its legitimacy by focusing on one of the often overlooked aspects the institution's recent reforms: the IMF's efforts to change its relationship with borrowing countries by revising its conditionality guidelines and pursuing greater domestic 'ownership' over the reforms that it requires. While this response helps to resolve a number of legitimacy gaps that have emerged in the past decades, this strategy has also produced a number of new legitimacy dilemmas that raise questions about the sustainability of the IMF's current reform efforts. Chief among them is the limit to the Fund's ability to obtain the deeper political legitimacy that it seeks by using the same narrowly technical economic strategies that it has relied on in the past |
| `In' analytical Note | Third World Quaterly Vol. 28, No.3; 2007: p469-488 |
| Journal Source | Third World Quaterly Vol. 28, No.3; 2007: p469-488 |
| Key Words | International Monetary Fund ; IMF ; WTO |