I.M.F. Independence Matters
The International Monetary Fund has been at the center of global financial stability since its creation after World War II. In the last year it has played a central role in reducing the risk of a European financial meltdown. At the fund’s spring meetings this week, the question of whether to bolster I.M.F. resources will dominate the agenda. Yet in reality the I.M.F. faces a much greater challenge that could render additional financing a sideshow: an erosion of market belief in I.M.F. financial analysis. Such a loss of credibility threatens the fund, the nations it seeks to support, and the global financial system.… Seguir leyendo »