John Maynard Keynes famously remarked that “When the facts change I change my mind. What do you do, sir?” One has to wonder whether the same might not be asked of the International Monetary Fun (IMF) in relation to its Ukrainian lending program. For as each day passes, it appears that the basic economic and political assumptions underlying that program are far from being realized. This has to raise serious questions as to whether that program is now adequately financed. More fundamentally, it also has to raise questions as to whether the IMF might not be overstepping its mandate in …read more
Source: American Enterprise Institute for Public Policy Research