El nuevo FMI

WASHINGTON, D.C.—Cuando los ministros asistan este mes a la reunión de primavera del FMI, se encontrarán con una institución que ha recuperado la confianza en sí misma. La cumbre del G-20 celebrada en Londres dio un mandato reforzado al FMI, al tiempo que triplicaba sus recursos. Va a haber más financiación en condiciones favorables para los países con bajos ingresos y la  liquidez internacional aumentará con una dotación de 250.000 millones de derechos especiales de giro (DEG). Se trata de un gran impulso para el FMI e infunde esperanzas a los países en ascenso y en desarrollo que se han visto gravemente afectados por una crisis originada en otras latitudes.

El FMI está en buenas condiciones para superar los desfases financieros resultantes de la crisis. En el período previo a la cumbre del G-20, se aumentó el acceso a  las líneas de crédito y se flexibilizaron las condiciones en materia de políticas. Como punto de inflexión con los usos anteriores, se introdujo una nueva línea de crédito sin condiciones para los países con buen rendimiento. México y Polonia serán sus primeros usuarios y otros países harán cola para obtenerla. Esas políticas más flexibles de préstamo reflejan una nueva concepción del FMI. El negativo estigma atribuido a la financiación del FMI es cosa del pasado.

Una vez garantizado su papel financiador en esta crisis, ahora el FMI debe reforzar su posición de custodio del sistema financiero internacional. El FMI fue creado para prevenir crisis como la actual y en eso ha fallado. Cierto es que hubo avisos, pero las autoridades, en particular las de los países avanzados, no actuaron en consecuencia.

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