Restructuring of the International Financial System and Peripheral Countries

ABSTRACT The purpose of this article is to present an evaluation of the international financial system reformulation propositions and their likely consequences for the national sovereignty of underdeveloped countries. To attain this objective, the article analyses the underlying rationale of the IMF’s main policy recommendations for the “new international financial architecture”, the new capital adequacy rules drawn by the Basle Committee, and the reform proposals for the IMF and the World Bank proposed by the US Congress and by the US government.