The IMF has a contentious reputation everywhere outside Washington. Its structural adjustment programs are infamous for imposing austerity on poorer countries in Africa and Latin America. Its role in the Asian Financial Crisis and the 2012 Euro debt crisis cemented that reputation across two more continents.
All of which makes the distance the IMF has come since 2012 all the more remarkable. This interview in the FT with Managing Director Kristalina Georgieva was remarkable for the line she is trying to draw between then and now. Please do read the whole thing.
Now to see if it manifests in practice…
(Link thanks to Adam Tooze’s new newsletter, well worth checking out.)