The International Monetary Fund has been forged in the fire of financial meltdowns, from debt emergencies in emerging markets to midnight rescues in the eurozone, Harold James, a senior fellow with the Centre for International Governance Innovation (CIGI) and the IMF’s official historian, explains in this video. The essential character of the organization that has emerged from these episodes — a cooperative that can give credit to members in their hour of need while also dispensing financial advice — remains unique and relevant in today’s uncertain world, argues the IMF historian and CIGI fellow.

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