Panizza, Ugo, (2016), “A Perfectly Crazy Idea for the IMF”, Project Syndicate, 2 Νοεμβρίου
Emerging economies inhabit a risky world characterized by volatile capital flows. But, rather than rely on the IMF to fulfill its mandate of protecting them from liquidity crises, they self-insure by accumulating large stockpiles of international reserves. Emerging and developing economies now lend nearly $7.5 trillion to the US Treasury – resources that could be used to fund badly needed infrastructure projects.
What is curious about this approach is that the IMF’s record in handling financial crises, though far from perfect, is generally quite good. So why the reluctance to count on the Fund?
Σχετικές Αναρτήσεις
- Véron, Nicolas, (2016), “The IMF’s role in the euro-area crisis: financial sector aspects”, Bruegel, 29 Αυγούστου
- Weisbrot, Mark, (2016), “The IMF’s Lost Influence in the 21st Century and Its Implications”, Cepr Publications, 25 Ιουλίου