The 2007 financial crisis almost brought down the global financial system and
threatened to lead the world economy into a severe depression. The impact of the crisis
was only curtailed by extraordinary measures taken by governments, central banks and an
institution once considered by many to be defunct.
Onno de Beaufort Wijnholds, a former Executive Director of the International Monetary
Fund, delivers a compelling account of the inner workings of the IMF during the current
crisis and those which preceded it. He profiles some of the most powerful individuals in
the Fund and analyses the interplay of economics and politics that determines the success
or failure of IMF policies.
ONNO DE BEAUFORT WIJNHOLDS is a former Executive Director of the
International Monetary Fund and former Representative of the European Central Bank in the
United States. During his 40 year career, which began at the Netherlands Central Bank, he
was closely involved in dealing with international financial crises. He was also a
professor of money and banking and has published widely.
Table of Contents
Prologue
Tequila and Tesobonos: Mexico 1994-95
From Miracle to Panic and Back: Asia 1997-98
Korea's Christmas Crisis
Indonesia with Nukes: Russia 1998
Double Bailout for Brazil
The IMF Fails: The Argentine Drama
Turkey Stumbles
Lessons Learned, Not Learned and Ignored
A Global Firestorm
Europe's Turn
Saving the System
Epilogue
224 pages, Hardcover