The IMF after DSK

[CHIMO]

Now that Dominique Strauss-Kahn has resigned from his position as managing director of the International Monetary Fund (IMF), it is worth taking an objective look at his legacy there. Until his arrest last week on charges of attempted rape and sexual assault, he was widely praised as having changed the IMF, increased its influence and moved it away from the policies that – according to the fund's critics – had caused so many problems for developing countries in the past. How much of this is true?

Strauss-Kahn took the helm of the IMF in November of 2007, when the IMF's influence was at a low point. Total outstanding loans at that time were just $10bn, down from $91bn just four years earlier. By the time he left this week, that number had bounced back to $84bn, with agreed-upon loans three times larger. The IMF's total capital had quadrupled, from about $250bn to an unprecedented $1tn. Clearly, the IMF had resources that it had never had before, mostly as a result of the financial crisis and world recession of 2008-2009.

http://www.guardian.co.uk/commentisfree/cifamerica/2011/may/19/imf-dominique-strauss-kahn

[Philippine expat]

1. It is time to

abolish the IMF. the WTO and all other International organizations
that screw the common man