6 B. The International Monetary Fund

• The roles:surveillance (the Article IV consultations — the annual health check of every member's macro policy); lending (balance-of-payments support — the concessional facilities Nepal has used, most recently the pandemic-era programmes); technical assistance (central banking, statistics, tax administration — the quiet IMF); the SDR (the reserve asset — the 2021 allocation's general liquidity boost);• The design: quota subscriptions (the subscription-vote link — the same legitimacy critique); conditionality — the lending's price: fiscal and monetary programmes — the classical debate (the austerity critiques of the 1980s–90s programmes against the crisis-management defence: the lender to countries no market will lend);• Nepal and the IMF: from the 1980s structural programmes (the liberalization's external midwife — 1.2's arc) to the technical-assistance relationship (the NRB's frameworks) and the pandemic-era concessional support — the engagement every Nepali macro debate silently assumes. The law-student's close (memorise): the WTO writes the world's trade law and adjudicates it; the Bank and the Fund finance development and guard the system's plumbing— together, the post-war order's economic constitution, of which a small open economy like Nepal is taker more than maker: the standing asymmetry your future practice will encounter (and the reason SAFTA/BIMSTEC/bilateral diplomacy exist as the developing world's counterweights).