La revisión del financiamiento del FMI

El Fondo Monetario Internacional debería ser un puerto de escala esencial para los países de mercados emergentes y en desarrollo que enfrentan necesidades financieras. Con su capacidad para movilizar importantes recursos financieros y afianzar la credibilidad política, el FMI puede ayudar a mitigar los grandes costos económicos y sociales muchas veces asociados con las crisis. En este contexto, el mundo se ha reunido en medio de la crisis para revisar radicalmente el marco para el otorgamiento de préstamos por parte del FMI.

Ahora y en el futuro, el mundo necesita que el FMI responda de manera flexible y efectiva a las necesidades de sus miembros. Primero y principal, si han de marcar una diferencia, nuestros paquetes de financiamiento deberían ser lo suficientemente grandes en relación a la dimensión del problema. Por otra parte, la ausencia de un fondo de seguro del FMI con términos aceptables ha sido una brecha importante en la arquitectura financiera global, especialmente para las economías de mercados emergentes más dinámicas. Esto es así a pesar de toda la evidencia existente sobre el valor de un pronto acceso al financiamiento del FMI, antes de que una situación difícil se deteriore y se convierta en una crisis.

Es más, mientras sigue siendo esencial vincular las condiciones de política a los programas respaldados por el FMI, éstas deberían concentrarse lisa y llanamente en solucionar los problemas críticos de un país, de manera que las condiciones sean relevantes y no impertinentes.

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