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International Monetary Fund

The U.S. helped establish the International Monetary Fund (IMF) and the World Bank to help economies recover after World War II, to prevent a reversion to protectionist policies that contributed to the Great Depression’s depth and duration, and to help spur economic growth and development in poor or newly independent countries. With the expiration of fixed exchange rates in the early 1970s, the IMF’s original mission ceased; it assumed such new missions as bailing out developing countries in financial crises. Yet it lacks the authority and resources to address threats to today’s international financial system; it should downsize and be fundamentally reformed.

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  • Issue Brief posted July 24, 2014 by Norbert J. Michel, Ph.D. IMF Wants U.S. Taxpayers to Shoulder More Risk

    The International Monetary Fund’s (IMF) report on its 2014 Article IV consultation with the United States highlights the importance of securing a safer financial system. The IMF’s policy recommendations would, however, achieve the opposite while putting U.S. taxpayers at risk. IMF Report Gets Housing Finance Wrong For starters, the IMF report states the U.S. should…

  • Issue Brief posted July 2, 2014 by Romina Boccia The IMF Is Following the Obama Administration’s Playbook on the Federal Budget

    The International Monetary Fund’s report on its 2014 Article IV Consultation with the United States risks encouraging inaction by U.S. lawmakers on adopting structural entitlement reforms to control U.S. spending and debt growth. The IMF report suggests institutional budget reforms to “lessen fiscal policy uncertainty,” citing “recent experience of debt ceiling…

  • Commentary posted May 29, 2014 by Ambassador Terry Miller IMF reforms give Ukraine chance to shed past corruption

    The reforms demanded by the International Monetary Fund and European Union provide the best chance for Ukraine to overcome the legacy of socialism and corruption that have left its people impoverished and its economy the least free in Europe. Like any country populated with real people with diverse backgrounds, needs and skills, Ukraine's political and economic problems…

  • Issue Brief posted March 24, 2014 by Brett D. Schaefer 11 Issues for Congress in the President’s FY 2015 International Affairs Budget Request

    President Barack Obama released his fiscal year (FY) 2015 budget proposal on March 4, 2014. Although much of the budget reflects long-standing programmatic and budgetary practice, there are 11 specific issues that Congress should address. The President’s FY 2015 budget request for International Affairs (IA) totals $50.01 billion, including a base budget of $44.1 billion…

  • Issue Brief posted March 7, 2014 by James M. Roberts Aid to Ukraine Should Not Be Held Hostage by IMF Politics

    The Obama Administration is insisting that before Congress can support courageous, Westward-looking Ukrainians, it must first reduce the power of the United States at the International Monetary Fund (IMF).[1] The White House wants Congress to attach its approval of an IMF governance “reform package” that has been pending for three years to any legislation providing…

  • Issue Brief posted January 14, 2014 by James M. Roberts Congress Should Block the Morally Hazardous IMF “Reform” Package

    A little-known provision purported to be in the fiscal year 2014 omnibus spending bill currently being debated in Congress would chip off yet another little piece of American sovereignty—handing it and potentially billions of U.S. taxpayer dollars over to international civil servants at the International Monetary Fund (IMF) to bail out economically distressed…

  • Issue Brief posted May 24, 2013 by Ryan Olson, Anthony B. Kim Congress Should Query IMF Support for Capital Controls

    The International Monetary Fund (IMF) recently weakened its long-held institutional support for the free flow of capital across national borders. The IMF’s new view, described most clearly in a document entitled “The Liberalization and Management of Capital Flows: An Institutional View,”[1] which was endorsed by the IMF governors in December 2012, is that temporary…

  • Special Report posted February 17, 2012 by The Heritage Foundation Economic Freedom Task Force America’s Global Agenda for Economic Freedom

    Abstract: Promoting economic freedom at home and abroad is essential to revitalizing the U.S. economy. In 2010, for the first time ever, the United States fell from the ranks of the economically free in the Index of Economic Freedom, and economic freedom in the U.S. has continued to decline. The U.S. influence can be decisive in promoting property rights and…

  • Backgrounder posted March 4, 2011 by James M. Roberts Holding the Kirchners Accountable for Argentina’s Economic Freefall

    Abstract: In Argentina, the rule of law and free-market principles have been weakened dramatically over the past decade. Under the leadership of Nestor and Cristina Kirchner, economic freedom in Argentina has been in a virtual freefall, corruption has been rampant, and the government’s ties to strongmen in the region, such as Venezuela’s Hugo Chávez, are…

  • Center for Data Analysis Report posted October 14, 2010 by William W. Beach, Patrick Tyrrell The 2010 Index of Dependence on Government

    Abstract: The number of Americans who pay taxes continues to shrink—and the United States is close to the point at which half of the population will not pay taxes for government benefits they receive. In 2009, 64.3 million Americans depended on the government (read: their fellow citizens) for their daily housing, food, and health care. Starting in 2015, the Social…

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  • Backgrounder posted September 17, 2009 by Karen Campbell, Ph.D. The Economic Role of Government: Focus on Stability, Not Spending

    Abstract: Is there a role for government in the economy? Yes, says Heritage analyst Karen Campbell--but the government must focus on maintaining economic stability. Fiscal responsibility is an important part of that stability. Government debt can quickly become a burden on the economy and weaken its foundations. Sound macroeconomic policies enhance the…

  • Issue Brief posted July 2, 2014 by Romina Boccia The IMF Is Following the Obama Administration’s Playbook on the Federal Budget

    The International Monetary Fund’s report on its 2014 Article IV Consultation with the United States risks encouraging inaction by U.S. lawmakers on adopting structural entitlement reforms to control U.S. spending and debt growth. The IMF report suggests institutional budget reforms to “lessen fiscal policy uncertainty,” citing “recent experience of debt ceiling…

  • Issue Brief posted January 14, 2014 by James M. Roberts Congress Should Block the Morally Hazardous IMF “Reform” Package

    A little-known provision purported to be in the fiscal year 2014 omnibus spending bill currently being debated in Congress would chip off yet another little piece of American sovereignty—handing it and potentially billions of U.S. taxpayer dollars over to international civil servants at the International Monetary Fund (IMF) to bail out economically distressed…

  • Issue Brief posted March 7, 2014 by James M. Roberts Aid to Ukraine Should Not Be Held Hostage by IMF Politics

    The Obama Administration is insisting that before Congress can support courageous, Westward-looking Ukrainians, it must first reduce the power of the United States at the International Monetary Fund (IMF).[1] The White House wants Congress to attach its approval of an IMF governance “reform package” that has been pending for three years to any legislation providing…

  • Issue Brief posted May 24, 2013 by Ryan Olson, Anthony B. Kim Congress Should Query IMF Support for Capital Controls

    The International Monetary Fund (IMF) recently weakened its long-held institutional support for the free flow of capital across national borders. The IMF’s new view, described most clearly in a document entitled “The Liberalization and Management of Capital Flows: An Institutional View,”[1] which was endorsed by the IMF governors in December 2012, is that temporary…

  • Issue Brief posted March 24, 2014 by Brett D. Schaefer 11 Issues for Congress in the President’s FY 2015 International Affairs Budget Request

    President Barack Obama released his fiscal year (FY) 2015 budget proposal on March 4, 2014. Although much of the budget reflects long-standing programmatic and budgetary practice, there are 11 specific issues that Congress should address. The President’s FY 2015 budget request for International Affairs (IA) totals $50.01 billion, including a base budget of $44.1 billion…

  • Issue Brief posted July 24, 2014 by Norbert J. Michel, Ph.D. IMF Wants U.S. Taxpayers to Shoulder More Risk

    The International Monetary Fund’s (IMF) report on its 2014 Article IV consultation with the United States highlights the importance of securing a safer financial system. The IMF’s policy recommendations would, however, achieve the opposite while putting U.S. taxpayers at risk. IMF Report Gets Housing Finance Wrong For starters, the IMF report states the U.S. should…

  • WebMemo posted July 27, 2010 by Nicola Moore U.S. Long-Term Debt Situation Is One of the World’s Worst

    This year, the U.S. public debt is projected to reach 62 percent of the economy—up from 40 percent in 2008 and nearly double the historical average, according to recent Congressional Budget Office (CBO) estimates. The financial crisis and recession drove much of this debt swing, yet larger problems loom in the future. By 2030, the CBO projects that debt will more than…

  • WebMemo posted April 10, 2009 by Theodore R. Bromund, Ph.D. The G-20 Summit: Mistakes and Missed Opportunities

    The G-20 Summit in London promised to bring together the heads of the world's leading nations to address the global financial crisis. Instead, the summit agreed on measures that are by turn weak, vague, and sinister. When the summit dealt with the current crisis, it failed to move beyond platitudes or to acknowledge the failure of most of its members to live up to…

  • WebMemo posted April 14, 2009 by James M. Roberts Keeping Score: Will the Summit of the Americas Make the U.S. More Prosperous?

    When President Obama leads the U.S. delegation to the April 17-19 Summit of the Americas in Trinidad and Tobago, the whole neighborhood will be watching. The summit will be Obama's first multilateral meeting with all 34 democratically elected Latin American heads of state (excluding Cuba). Confronted by serious economic problems domestically and unprecedented…

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  • Issue Brief posted July 24, 2014 by Norbert J. Michel, Ph.D. IMF Wants U.S. Taxpayers to Shoulder More Risk

    The International Monetary Fund’s (IMF) report on its 2014 Article IV consultation with the United States highlights the importance of securing a safer financial system. The IMF’s policy recommendations would, however, achieve the opposite while putting U.S. taxpayers at risk. IMF Report Gets Housing Finance Wrong For starters, the IMF report states the U.S. should…

  • Issue Brief posted July 2, 2014 by Romina Boccia The IMF Is Following the Obama Administration’s Playbook on the Federal Budget

    The International Monetary Fund’s report on its 2014 Article IV Consultation with the United States risks encouraging inaction by U.S. lawmakers on adopting structural entitlement reforms to control U.S. spending and debt growth. The IMF report suggests institutional budget reforms to “lessen fiscal policy uncertainty,” citing “recent experience of debt ceiling…

  • Issue Brief posted March 24, 2014 by Brett D. Schaefer 11 Issues for Congress in the President’s FY 2015 International Affairs Budget Request

    President Barack Obama released his fiscal year (FY) 2015 budget proposal on March 4, 2014. Although much of the budget reflects long-standing programmatic and budgetary practice, there are 11 specific issues that Congress should address. The President’s FY 2015 budget request for International Affairs (IA) totals $50.01 billion, including a base budget of $44.1 billion…

  • Issue Brief posted March 7, 2014 by James M. Roberts Aid to Ukraine Should Not Be Held Hostage by IMF Politics

    The Obama Administration is insisting that before Congress can support courageous, Westward-looking Ukrainians, it must first reduce the power of the United States at the International Monetary Fund (IMF).[1] The White House wants Congress to attach its approval of an IMF governance “reform package” that has been pending for three years to any legislation providing…

  • Issue Brief posted January 14, 2014 by James M. Roberts Congress Should Block the Morally Hazardous IMF “Reform” Package

    A little-known provision purported to be in the fiscal year 2014 omnibus spending bill currently being debated in Congress would chip off yet another little piece of American sovereignty—handing it and potentially billions of U.S. taxpayer dollars over to international civil servants at the International Monetary Fund (IMF) to bail out economically distressed…

  • Issue Brief posted May 24, 2013 by Ryan Olson, Anthony B. Kim Congress Should Query IMF Support for Capital Controls

    The International Monetary Fund (IMF) recently weakened its long-held institutional support for the free flow of capital across national borders. The IMF’s new view, described most clearly in a document entitled “The Liberalization and Management of Capital Flows: An Institutional View,”[1] which was endorsed by the IMF governors in December 2012, is that temporary…

  • Special Report posted February 17, 2012 by The Heritage Foundation Economic Freedom Task Force America’s Global Agenda for Economic Freedom

    Abstract: Promoting economic freedom at home and abroad is essential to revitalizing the U.S. economy. In 2010, for the first time ever, the United States fell from the ranks of the economically free in the Index of Economic Freedom, and economic freedom in the U.S. has continued to decline. The U.S. influence can be decisive in promoting property rights and…

  • Backgrounder posted March 4, 2011 by James M. Roberts Holding the Kirchners Accountable for Argentina’s Economic Freefall

    Abstract: In Argentina, the rule of law and free-market principles have been weakened dramatically over the past decade. Under the leadership of Nestor and Cristina Kirchner, economic freedom in Argentina has been in a virtual freefall, corruption has been rampant, and the government’s ties to strongmen in the region, such as Venezuela’s Hugo Chávez, are…

  • Center for Data Analysis Report posted October 14, 2010 by William W. Beach, Patrick Tyrrell The 2010 Index of Dependence on Government

    Abstract: The number of Americans who pay taxes continues to shrink—and the United States is close to the point at which half of the population will not pay taxes for government benefits they receive. In 2009, 64.3 million Americans depended on the government (read: their fellow citizens) for their daily housing, food, and health care. Starting in 2015, the Social…

  • Special Report posted September 28, 2010 by William W. Beach, Robert B. Bluey Slay the Beast: How You Can Save Us from the Massive Debt

    Revised and updated October 23, 2012. Washington’s reckless spending spree of the past several years and unwillingness to confront the mountains of debt coming soon from unreformed federal entitlement programs threaten the economic and social future of the generation currently between the ages of 5 and 30. The 115 million Americans in this Debt-Paying…

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Find more work on International Monetary Fund