International Monetary Fund Slowly Taking Over as Global Economic Regulator and Banker → Washingtons Blog
International Monetary Fund Slowly Taking Over as Global Economic Regulator and Banker - Washingtons Blog

Friday, May 1, 2009

International Monetary Fund Slowly Taking Over as Global Economic Regulator and Banker


AP writes:

The Group of 20 countries have made the [IMF] the linchpin in their efforts to combat the worst economic downturn since the Great Depression

The Washington Post notes:

Global financial chiefs agreed yesterday to reshape the International Monetary Fund, moving to broaden its mission ...

The IMF, which in recent years had become largely an advisory body to nations in crisis, will now be charged with aggressive monitoring of the global economy. Underscoring that role, Treasury Secretary Timothy F. Geithner said yesterday that Washington had consented to a rigorous IMF review of the U.S. financial system for the first time since the fund was created at the end of World War II.

(Actually, the IMF began the review last year - under the condition that the results not be released until Bush was out of office).

No comments:

Post a Comment

→ Thank you for contributing to the conversation by commenting. We try to read all of the comments (but don't always have the time).

→ If you write a long comment, please use paragraph breaks. Otherwise, no one will read it. Many people still won't read it, so shorter is usually better (but it's your choice).

→ The following types of comments will be deleted if we happen to see them:

-- Comments that criticize any class of people as a whole, especially when based on an attribute they don't have control over

-- Comments that explicitly call for violence

→ Because we do not read all of the comments, I am not responsible for any unlawful or distasteful comments.