In tune with the beat of 2015 being a pivotal year for development, the International Monetary Fund (IMF) – which is holding its annual meetings with the World Bank in Peru from October 7 to October 9 – is expanding its mandate in support of growth and stability to longer term development goals.
Simultaneously, the fund is taking steps to try to defuse criticism from emerging market economies and developing countries, many commentators say. One concern of these members is that the IMF has allegedly been over-lending in Europe during the eurozone crisis, especially in Greece and, more recently, Ukraine.