The IMF and the liberalization of capital markets. (International Monetary Fund)(International Law in the Americas: Rethinking National Sovereignty in an Age of Regional Integration)

From: Houston Journal of International Law | Date: March 22, 1997| Author: Gianviti, Francois | Copyright information

I. Introduction

What place would be more fitting than Mexico City to reflect on the International Monetary Fund's (the Fund) role in the liberalization of capital markets? The 1994-95 Mexican external debt crisis required an unprecedented amount of external financial assistance, essentially from the United States and from the Fund.(1) Some questioned the appropriateness of this assistance on the ground that it created a "moral hazard" by encouraging sovereign debtor...

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