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The IMF's New Face

After listening to Dominique Strauss-Kahn’s speech at the CGD-SAIS conference on April 23, I almost had to pinch myself: new lending instruments without conditionality and without pre-established limits? Stand-by agreements with social conditionality—that is, requirements designed to protect the poorest? These are very important steps for an institution, which until recently, developing countries saw as the “bad cop” for decades.