International Monetary Fund ignored global financial crisis warnings - report
February 10, 2011
THE IMF ignored warnings about the financial crisis from its own top economist and acted like cheerleader for the US economy rather than monitoring it, according to a scathing watchdog report published overnight.
February 10, 2011
THE IMF ignored warnings about the financial crisis from its own top economist and acted like cheerleader for the US economy rather than monitoring it, according to a scathing watchdog report published overnight.
The International Monetary Fund "failed to highlight the relevant vulnerabilities" in the US financial system in the run up to the 2008 crisis, according to a 51-page report from the fund's Independent Evaluation Office.
Despite a 2005 warning from the IMF's chief economist Raghuram Rajan about the same complex financial products that would plunge the globe into crisis, little was done to act on those warnings, the watchdog said.
Η συνέχεια στο heraldsun.com.au
Despite a 2005 warning from the IMF's chief economist Raghuram Rajan about the same complex financial products that would plunge the globe into crisis, little was done to act on those warnings, the watchdog said.
Η συνέχεια στο heraldsun.com.au