Former chief economist of the World Bank and Nobel Prize winner Joseph
Stiglitz warns that IMF’s lending policy ultimately undermines the
loan’s recipient nations and that the loans’ interest rates are too
He furthermore adds that the monetary policies imposed on
crisis-ravaged countries are “contractionary in contrast to the
expansionary economic policies adopted in Britain or France,” referring
to recent IMF “emergency” loans to Pakistan, Ukraine and Iceland.
His statements were given to reporters in Paris, France, this Tuesday and reported on by The West Australian via AFP. Read their entire story here.
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