The IMF's Independent Evaluation Office, established after Asia's 1998 financial crisis to assess IMF policies and programs at arm's length, has issued a comprehensive critique of the Fund’s role in Europe’s post-2008 crisis. The takeaway: money talked loudest.
BERKELEY – Following the International Monetary Fund’s controversial actions in the Asian financial crisis of 1998, when it conditioned liquidity assistance to distressed countries on government belt-tightening, the IMF established an Independent Evaluation Office (IEO) to undertake arm’s-length assessments of its policies and programs. That office has now issued a comprehensive critique of the Fund’s role in Europe’s post-2008 crisis.
BERKELEY – Following the International Monetary Fund’s controversial actions in the Asian financial crisis of 1998, when it conditioned liquidity assistance to distressed countries on government belt-tightening, the IMF established an Independent Evaluation Office (IEO) to undertake arm’s-length assessments of its policies and programs. That office has now issued a comprehensive critique of the Fund’s role in Europe’s post-2008 crisis.