IEO calls for IMF to rethink house view on capital controls

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The International Monetary Fund should revisit its “institutional view” (IV) on the use of capital controls to tackle several shortcomings, a new report by the fund’s Independent Evaluation Office finds.

The IEO says the IV, adopted in 2012, was a “major step forward” in providing better advice to member countries on how to deploy capital controls. But the IV also would benefit from a “refresh” in several areas, the organisation says.

The 2012 reform was a watershed moment for the fund, which

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