Why Is the IMF trying to be an aid agency?

Prof Kenneth Rogoff

What you need to know:

An economist argues that the IMF should stop furnishing unconditional loans to governments, but focus on its core surveillance functions that establish financial stability and ensure that its resources do not end up causing domestic corruption.

Who is going to clean up the inevitable financial mess in emerging markets if persistent inflation forces the US Federal Reserve to start raising interest rates significantly? The International Monetary Fund (IMF), normally tasked with pulling countries back from the brink, seems disenchanted with the job. Rather than embracing its traditional role of helping troubled debtor countries help themselves, the IMF has been attempting to morph into an aid agency.


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