2011 Triennial Surveillance Review - External Commentary - Surveillance by the International Monetary Fund

Download or read book 2011 Triennial Surveillance Review - External Commentary - Surveillance by the International Monetary Fund written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-08-15 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commentary prepared by Martin Wolf, Associate Editor & Chief Economics Commentator, Financial Times, London: "With countries naturally reluctant to cede any control over their own monetary and fiscal policies, it is likely that the IMF will have as instruments only the powers of analysis, persuasion, and, in Keynes" own favourite words, "ruthless truth-telling". That phrase does not conjure up many memories of any of the many international meetings I have attended. But unless the IMF has the self-confidence to play that role, its deliberations and statements will carry little weight. The Fund requires an independent, respected and clear voice." Mervyn King, 2006.