The IMF Is Missing in Action | by Desmond Lachman - Project Syndicate

The IMF Is Missing in Action | by Desmond Lachman - Project Syndicate

Today’s global economic imbalances result not from import tariffs or exchange-rate manipulation, but rather from inappropriate macroeconomic policies across deficit and surplus countries alike. If the International Monetary Fund was doing its job, it would be waving a red flag and recommending solutions.

The International Monetary Fund (IMF) alerted Costa Rica that, if it is to reduce the level of public debt to below 55 per cent of gross domestic product (GDP) by 2030, it will be necessary to implement strong measures to contain spending. Therefore, the main recommendation of the multilateral agency to achieve the goal is the freezing of wages of the Central Government. “The containment of expenditure, through a wage freeze, is expected to be t…

Member of the Finance Committee, Mustafa Al Karawi, confirmed that the future government would face a "debt overhang," while the current Iraqi government charged "negative confidence in the banking system," noting that "Iraq is not a decision-maker in prices."

Analysts estimate that operating costs should be cut despite inflexibility, present in cases such as GSP or pensions

Read time approx.: 1 minutes, 35 secondsThe largest world economy is still being affected by “very high” trade policy uncertainty since Donald Trump's return to power, despite positive developments such as tariff cuts to China and the achievement of an economic agreement between the United States and the United Kingdom. International Monetary Fund's first managing deputy director, Gita Gopinath, said that US fiscal deficits are too large and tha…

The US is sitting on a huge mountain of debt, doubts about the stability of the state budget are putting the dollar under pressure, and the last credit rating is now gone. The deputy director of the International Monetary Fund (IMF), Gita Gopinath, warned the US on Wednesday of a "continuously growing debt burden". President Donald Trump nevertheless wants to thwart his plans for tax cuts in Congress.