Long-term IMF-watchers may be interested in this fascinating IMF web-post, on a conference on management of the financial crisis in Iceland. In it, the Fund implicitly endorses former IFI arch-nemesis Joe Stiglitz, as well as capital controls (for now), and a government refusal to allow tax payers to bail out private banks. It lists the three lessons from Iceland as being: real country ownership makes for stronger recovery; a heterodox policy approach helps; and it’s important to protect the welfare state during crisis.
More: http://www.imf.org/external/pubs/ft/survey/so/2011/CAR110311A.htm
check it out
More: http://www.imf.org/external/pubs/ft/survey/so/2011/CAR110311A.htm
check it out
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