IMF has no back-up plan to Fed swap lines

International Monetary Fund Headquarters 2, Washington, DC
Photo: John Harrington

The International Monetary Fund has no capability to step in and provide global US dollar liquidity support in the event of an international market breakdown on the scale of the global financial crisis, says its financial counsellor, Tobias Adrian.

There are also no immediate plans for the IMF to develop such a capability, Adrian told Central Banking in an in-depth interview, despite the potential threat to the global monetary system should the US Federal Reserve – the provider of US dollar

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