1 / 21

Top Ten Reasons Why the IMF Shouldn’t Take the Lead in Reform of Global Finance

Top Ten Reasons Why the IMF Shouldn’t Take the Lead in Reform of Global Finance. By Mark Weisbrot Co-Director of the Center for Economic and Policy Research (CEPR) Thursday, October 9, 2008. 10. The IMF totally missed the two biggest asset bubbles in the history of the world. Home Prices.

eron
Download Presentation

Top Ten Reasons Why the IMF Shouldn’t Take the Lead in Reform of Global Finance

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Top Ten Reasons Why the IMF Shouldn’t Take the Lead in Reform of Global Finance By Mark Weisbrot Co-Director of the Center for Economic and Policy Research (CEPR) Thursday, October 9, 2008

  2. 10. The IMF totally missed the two biggest asset bubbles in the history of the world.

  3. Home Prices

  4. Price-to-earnings ratio

  5. 9. The IMF is unaccountable.

  6. 8. Developing countries have no significant say in IMF decisions.

  7. Voting Structure of the IMF

  8. Voting Structure of the IMF

  9. 7. The IMF is at the head of a creditor’s cartel that has pressured developing countries to adopt harmful policies over the last three decades.

  10. 6. The IMF made a mess in the last set of financial and economic crises: Argentina, East Asia, Russia…

  11. Per Capita GDP in Asian Crisis Countries, (1997=100)

  12. Per Capita GDP in Argentina, 1990-2008

  13. 5. The IMF has shown no serious efforts at reform despite repeated failures.

  14. 4. The IMF’s economic projections can be way off target and may be politically influenced.

  15. IMF Projected GDP Growth for Argentina and Actual Growth

  16. 3. The IMF’s recommended economic policies have, in general, failed.

  17. Latin America's Unprecedented Long-Term Growth Collapse Western Hemisphere: Total growth in per capita real GDP (Purchasing Power Parity)

  18. Slowdown in Economic Growth

  19. 2. The IMF has been a champion of the de-regulated global financial flows that played a huge role in the current mess.

  20. 1.The IMF is run mostly by the Treasury Department.

  21. U.S. Treasury Secretary Paulson. Compensation at Goldman Sachs in 2006: $164 million.

More Related