IMF: friend or foe?

Before the IMF underestimated the cost of bailing out Indonesia, it had been taking the right steps in exterminating the Asian bug that has stung so many economies in the region. But now that the US is being asked to contribute more to the IMF ($18 billion), some critics now say agencies such as the...

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Bibliographic Details
Published in:Futures (Cedar Falls, Iowa) Iowa), 1998-04, Vol.27 (4), p.29
Main Author: Seiden, Sam
Format: Magazinearticle
Language:English
Subjects:
Analysis
Development banks
Economic aspects
Financial aid
Funding
International economic relations
Online Access:Get full text
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Summary:Before the IMF underestimated the cost of bailing out Indonesia, it had been taking the right steps in exterminating the Asian bug that has stung so many economies in the region. But now that the US is being asked to contribute more to the IMF ($18 billion), some critics now say agencies such as the IMF simply are pilfering and redistributing US wealth. In response to these arguments, the US earns interest on the IMF contribution, and therefore it does not cost taxpayers a cent.
ISSN:0746-2468