New Report casts doubt on IMF program

Sep 24, 2009
By TBT Staff

In a recently-published report by the Washington, D.C.-based Center for Economic and Policy Research's Center, senior economist Jose Antonio Cordero argues that Latvia's "responses to the [global economic] downturn, along with IMF conditions for assistance, are… seen to have caused harm with pro-cyclical policies." Latvia's economy is expected to contract by up to 18 percent this year, much worse than the IMF's January 2009 prediction of 5 percent shrinkage. The report points out that the g ...

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