When Argentina's financial crisis first exploded, I pinned the primary responsibility on Argentina itself, rather than on international institutions such as the IMF. Now, half-a-year later, the balance of responsibility needs to be reconsidered. Even though Argentina is, in the last analysis, mainly responsible for its fate, the IMF is not helping. The problem is not only, or even mainly, the IMF's delay in providing money to Argentina. The bigger problem is the paucity of correct ideas coming from the IMF.
When Argentina's financial crisis first exploded, I pinned the primary responsibility on Argentina itself, rather than on international institutions such as the IMF. Now, half-a-year later, the balance of responsibility needs to be reconsidered. Even though Argentina is, in the last analysis, mainly responsible for its fate, the IMF is not helping. The problem is not only, or even mainly, the IMF's delay in providing money to Argentina. The bigger problem is the paucity of correct ideas coming from the IMF.