CAMBRIDGE: If emerging markets have become a speculative casino, then the IMF's managing director, Monsieur Camdessus, is the chief croupier. From Mexico to Asia, Russia to Brazil the IMF has stood by while currency crises boiled up over the past few years. Of course, the IMF was fast to mobilize vast amounts of money to throw into the pot once it boiled over, but its lack of decisive remedies has failed to move countries out of danger.
CAMBRIDGE: If emerging markets have become a speculative casino, then the IMF's managing director, Monsieur Camdessus, is the chief croupier. From Mexico to Asia, Russia to Brazil the IMF has stood by while currency crises boiled up over the past few years. Of course, the IMF was fast to mobilize vast amounts of money to throw into the pot once it boiled over, but its lack of decisive remedies has failed to move countries out of danger.