The Real Rot at the IMF

The Doing Business controversy has shaken the confidence in the Bretton Wood institutions, but it must not obscure the real problems with their functioning – the disproportionate power of the US; the IMF’s deeply procyclical approach to countries that seek its support, and the G7 advanced economies’ unwillingness to address global problems.

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(This article was originally published in the Project Syndicate on October 12, 2021)