IMF standby arrangement: its role in the resolution of crises in the 1990s.

This paper explores the role played by Stand-By Arrangements (SBAs) in the resolution of financial crises in the 1990s. It does so by examining these arrangements through a ceremony and ritual approach. This presentation is divided in three parts. The first one reviews the legal nature of SBA as a form of international law. The second analyses SBAs using a ceremony and ritual approach; and the last part review the case of Venezuela.