Tuesday April 7, 2020

Stephen Kinsella: For IMF, sorry seems to be the easiest word

A leaked transcript of a recent phone call between two IMF bigwigs has laid bare the divisions within the Troika

3rd April, 2016
IMF Headquarters in Washington, DC Picture: Getty

Every few years the International Monetary Fund publishes a mea culpa, examining its failures to implement reforms across the globe. Each of the IMF’s “ex post evaluations” is the equivalent of the parade of apologies that Ireland’s bankers and regulators treated us to during our own banking inquiry. Perhaps the apologies were well meant, but as they carried no consequences for those apologising, they sort of fall flat.

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