Will the IMF Finally Learn From Argentina?
Although evidence of the deficiencies in the International Monetary Fund's standard approach has been piling up for years, old habits evidently die hard. But now that Argentina is once again in trouble under the IMF's watch, the need for institutional self-reflection can no longer be ignored.
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SYDNEY – Argentina’s politically intractable foreign-debt crisis serves as a powerful reminder that the International Monetary Fund still has no answer for dealing with the volatility of international capital flows to emerging economies. It also underscores the need for reform at the Fund itself.