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The International Monetary Fund has proposed that it be allowed to borrow directly from financial markets in order to raise capital for its lending programs. In an email interview, Daniel McDowell, a doctoral student at the University of Virginia and an expert in international lending practices, discussed the IMF’s proposal. WPR: Why is the IMF seeking the ability to borrow directly from financial markets? Daniel McDowell: The IMF wants to be a fully capable international lender of last resort (ILOLR). Simply put, an ILOLR is an actor that is willing and able to provide credit during crises to solvent but […]