In the colonies it was said of the English that Britannia did not so much rule the waves as it waived the rules. The same might be said of the International Monetary Fund as it readies itself for yet another outsize loan to Ukraine. To justify propping up a beleaguered Ukrainian economy, the IMF is egregiously bending its own rules on exceptional-access lending. Lending on such a large scale to a country in Ukraine’s dire circumstances is outside its mandate.Early last year, at the start of the Russia-Ukraine crisis, there was never any doubt that Ukraine was of considerable geopolitical …read more
Source: American Enterprise Institute for Public Policy Research