ABSTRACT
The International Monetary Fund, initially charged with multiple tasks tied to the formation and maintenance of international economic stability, gradually evolved to merge its macroeconomic policy focus with development issues, particularly in its short term lending and surveillance work with the world’s developing and ‘Low Income Countries’. In July 1944, representatives of the 45 Allied powers met in Bretton Woods, New Hampshire and forged a new liberal economic order. The International Development Agency targets the world’s poorest economies and offers more concessionary terms for development assistance than the International Bank for Reconstruction and Development. The tension between the hangover of the Washington Consensus framework and flexible Keynesianism also impacts the most important contemporary development project tied to the International Monetary Fund and World Bank. The theme of domestic revenue mobilization also sits at the center of World Bank Sustainable Development Goal tax reform initiatives.
