Sunday, September 21, 2008

Sidelined in US crisis, IMF's day may still come - Forbes.com


"The IMF's response in the current crisis has ignited a fierce debate between IMF staff, management and its Asian members over the even-handedness of the IMF's endorsements of U.S. government's bailouts of institutions and its advice during the 1997/98 Asian financial crisis.

During the Asian crisis, the IMF opposed moves by Asian governments to pump public money to support the capital of ailing financial institutions, which led to a string of bankruptcies and thousands of job losses.

Still bitter toward the IMF, Asian government officials, and some senior staff, have told IMF management that the institution's actions smack of double standards."

[Read More:Forbes.com]