From Macro to Micro to “Mission-Creep”: Defending the IMF’s Emerging Concern with the Infrastructural Prerequisites to Global Financial Stability

Abstract

Charges that the IMF has been engaging in mission creep, gradually taking on a growing number of activities that exceed its constitutive mandate, have grown both in vehemence and in frequency since the late 1990s. I argue that, what ever the substantive merits of its actions, the IMF\u27s developing attention to the structural determinants of global financial stability is not ultra vires. The Fund\u27s evolving role was both foreseen and constitutionally provided for, both at its founding and at the principal constitutive Articles-amending moments since