Evaluating the IMF’s performance in the financial crisis

The International Monetary Fund

The global financial crisis of 2008–09 was the most serious event of its kind since the 1930s, and it is desirable to learn as much as possible from it in the interests of future financial stability. The recent report by the Independent Evaluation Office (IEO) of the International Monetary Fund1 is an important contribution to that endeavour.

The IEO was set up in 2001. Its function is to assess, after the event, the IMF’s performance in meeting its objectives by reviewing its handling of proble