The Global Economic Order
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The Global Economic Order

The International Law and Politics of the Financial and Monetary System

Elli Louka

Exploring in depth the institutions that underpin the global economy, this study provides invaluable insights into why a minimum economic order has endured for so long and why states are unwilling to establish a maximum order, a global safety net for all. The author investigates how debt – a critical component of states’ economic infrastructure – leads to debilitating crises, and how these crises undermine the economic autonomy and political independence of states. 
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Chapter 13: The International Monetary Fund and the world order

Elli Louka


We examine the structure of the IMF, the voting power of states that are its members and the ability of the IMF to shape global economic conditions through its lending programs, surveillance of states, and the standards and codes it issues or endorses. We scrutinize the conditionality that IMF imposes on states in exchange for lending to them when they are in financial jeopardy, and the repercussions of that conditionality on the willingness of states to seek the IMF’s assistance.

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