ABSTRACT
Some of the evidence presented in the previous chapter might lead one to believe that US foreign policy concerns completely dominate the question of who gets loans from the IMF. Yet, economic conditions were also found to be significant factors in determining which countries participate in IMF programs. To the extent that economic factors have systematic effects on the patterns of participation in IMF programs, the IMF acts according to its mandate laid out in the Articles of Agreement. A country’s level of development, its balance of payments situation, its foreign reserve position, and its level of foreign debt all influence IMF lending decisions. Technocratic concerns determine much of what goes on at the IMF.
