IMF admits policy failures on economic advice

The IMF's chief economist Kenneth Rogoff has described as "sobering" an IMF report which is critical of the advice the organisation provides to developing countries on economic reform.

Source: BBC

The International Monetary Fund has admitted that forcing developing countries to open their markets to foreign investors could increase the risk of financial crises.

"The process of capital account liberalization appears to have been accompanied in some cases by increased vulnerability to crises," th

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