Nobel prize winner blasts IMF over loans

“They are making the same mistake they were making in 97,” Stiglitz, a former chief economist at the World Bank, told reporters in Paris on Tuesday, referring to loans given to Iceland,  Pakistan and Ukraine to cope with the financial crisis.



1 Response to “Nobel prize winner blasts IMF over loans”

  1. 1 Vilhjalm A. January 28, 2009 at 11:20 pm

    “The interest rates for the IMF loans are too high and the monetary policies imposed on crisis-hit countries are contractionary in contrast to the expansionary economic policies adopted in Britain or France, he said”

    Iceland pays 5%, the IMF can get money from the US for .5%.
    4.5% for the IMF, that’s a good deal, maybe they should call themselves an investment bank or hedge fund.
    Always nice to see your “friends” kick you when you’re on the ground.

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