Thank you, Jesse.
EURODAD study is very relevant. And to think that the IMF was in crisis a few years ago... I remember when the IMF had to sell off gold reserves to pay staff salaries, and there was talk about downsizing and even closing down the institution. Some called the IMF the “Turkish Fund”, as its main lending was to Turkey, no country wanted IMF loans. I recall proposals suggesting that the IMF should become only a collector of economic data. But then came the global crisis, and the multilateral giant resurrected, and it is now more powerful than ever, imposing again the usual conditionalities that we rejected so strongly in Latin America and elsewhere -- decades earlier.
Your study is so important to bring attention on this. As it appears that we will have another crisis in the South, we need to prepare for an empowered IMF, unreformed. These Spring Meetings so many Southern governments expressed disappointment around the failure of implementing the 2010 IMF Quota Reform agreement, to offer fairer representation in the governance of the IMF.
Abrazos y gracias de nuevo
Carlos Bedoya
LATINDADD
Red Latinoamericana sobre Deuda, Desarrollo y Derechos
http://www.latindadd.org/
EURODAD study is very relevant. And to think that the IMF was in crisis a few years ago... I remember when the IMF had to sell off gold reserves to pay staff salaries, and there was talk about downsizing and even closing down the institution. Some called the IMF the “Turkish Fund”, as its main lending was to Turkey, no country wanted IMF loans. I recall proposals suggesting that the IMF should become only a collector of economic data. But then came the global crisis, and the multilateral giant resurrected, and it is now more powerful than ever, imposing again the usual conditionalities that we rejected so strongly in Latin America and elsewhere -- decades earlier.
Your study is so important to bring attention on this. As it appears that we will have another crisis in the South, we need to prepare for an empowered IMF, unreformed. These Spring Meetings so many Southern governments expressed disappointment around the failure of implementing the 2010 IMF Quota Reform agreement, to offer fairer representation in the governance of the IMF.
Abrazos y gracias de nuevo
Carlos Bedoya
LATINDADD
Red Latinoamericana sobre Deuda, Desarrollo y Derechos
http://www.latindadd.org/
