IMF Annual Meeting: don’t expect salvation
So far at the IMF, so true to form. All agree that the world will get poorer if everyone tries to devalue their currencies at once (actually a logical impossibility) and if all try to deflate at the same time. All agree on the need for coordination and all agree on the need for leadership.
Yet they will all go home and continue to act according to form – every man for himself.
Whatever else, we need not expect salvation from the apparently unreformable IMF.Tagged in: economics, imf
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