The IMF should actively consider using the existing financing facilities for increased support to crisis countries. Meanwhile, it needs to actively promote a quota increase and the general allocation of special drawing rights. In particular, the IMF needs to complete the special one-time allocation of SDRs as soon as possible to strengthen the capacity of member countries to withstand crises.
There is no substitute for doing your own homework. And my favorite, that which can't go on forever usually doesn't. 2  1  The views expressed herein are my own and do not necessarily reflect the views of other members of the Board of Governors or of the Federal Open Market Committee.