This book provides a definitive account of the recent history of the International Monetary Fund, and the successes it has enjoyed since it was founded. With fascinating contributions by current and former IMF staff members, this book offers a unique insight into the workings of the organization and explores how it has benefited many.

LESZEK BALCEROWICZ TOMÁS BALIÑO Deputy Director of the IMF's Monetary and Financial Systems Department, USAHUGH BREDENKAMP Assistant Director in the IMF's African Department, USATHOMAS DAWSON Former Director of the IMF's External Relations Department, USACHARLES ENOCH Deputy Director of the IMF's Statistics Department, USAARMINIO FRAGA PHILIP R. GERSON Assistant Director, Office of the Managing Director, International Monetary Fund, USAJAMES GORDON Division Chief in the IMF's Asian Department, USAGRAHAM HACCHE Deputy Director of the IMF's External Relations Department, USAMATS JOSEFSSON is at the Monetary and Capital Markets Department, International Monetary Fund, USAKIHWAN KIM TIMOTHY LANE Assistant Director in the Policy Development and Review Department of the International Monetary Fund, USACARL-JOHAN LINDGREN IMF Monetary and Exchange Department's mission chief for TurkeyGRAY MGONJA HUBERT NEISS Former Director of the IMF's Asian Department, USAROLANDO OSSOWSKI is at the International Monetary Fund, USAMARTIN PARKINSON LORENZO L. PÉREZ Deputy Director of the IMF's Middle East and Central Asia Department, USAMASSIMO RUSSO Former Director of the European Department, International Monetary Fund, USASTEVEN SEELIG Advisor in the IMF's Monetary and Capital Markets Department, USASÜREYYA SERDENDEÇTIROBERT SHARER Assistant Director in the IMF's African Department, USACARLOS STENERI GILBERT TERRIER Assistant Director in theWestern Hemisphere Department, International Monetary Fund, USAWANDA TSENG Former Deputy Director in the IMF's Asian Department, USAJOSÉ VIÑALS MARTIN WOLF

Preface Introduction;  E.Brau& I.McDonald PART I: IMF FINANCIAL HELP TO ECONOMIES IN CRISIS: HOW THE IMF HELPS ITS MEMBERS The Korean Crisis Ten Years Later: A Success Story;  H.Neiss, W.Tseng&  J.Gordon Comment; K.Kim Poland: Stabilization, Transition, and Reform, 199091;  T.Lane, R.Ossowski&  M.Russo Comment;  L.Balcerowicz Turkey's Renaissance: From Banking Crisis to Economic Revival;  H.Bredenkamp, M.Josefsson&  C.J.Lindgren Comment; S.Serdengeçti Tanzania: Reform and Progress, 19952007;  R.Sharer Comment; G.Mgonja Brazil: Anchoring Policy Credibility in the Midst of Financial Crisis;  L.L.Pérez&  P.R.Gerson Comment; A.Fraga Uruguay 200203: Recovery from Economic Contagion;  S.Seelig&  G.Terrier Comment;  C.Steneri PART II: PREVENTING FINANCIAL CRISES AND PROMOTING MONETARY COOPERATION Opening the Economic Books of Governments and of the IMF;  T.Dawson&  C.Enoch Comment;  M.Parkinson Preventing the Next Financial Crisis;  T.J.Baliño Comment;  J.Viñals The IMF Staff's View of the World: The World Economic Outlook;  G.Hacche Comment;  M.Wolf Conclusions;  E.Brau& I.McDonald Annex: How the IMF Operates