International Monetary Fund

March 14, 2020


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The financial crisis could intensify with new losses for banks that possess us values, says a recent report from the International Monetary Fund (IMF). And it has been calculated that you between mortgage loans from high-risk, the decline in housing prices, rising delinquencies and the prejudices that everything has been transferred to another type of loans, losses caused by the crisis totalled 945.000 million dollars. A capital that would finance fifteen or twenty of the Millennium goals if there is willingness to do so. But it is not clear, supportive capital, are losses. Losses result of recklessness, unrestrained greed, bad management and the absolute lack of control of the financial world. Now, the IMF calls on Governments already acting to temper the risks of a more painful adjustment. The IMF, the guardian of theological supremacy of the market (powerful deus ex machina that all monitors, controls and harmonizes) and the absence of the State in the economy.

And, so there is no doubt, its Managing Director, Dominique Strauss-Kahn, has stated that the need for public intervention has become more evident, because government intervention in the housing market or the banking sector may be a line of Defense to support financial and monetary policy. And, although the Treasury Secretary of the United States, Henry Paulson, secure that it will not draw public money (the taxpayers, the coffers of the State) to rescue the U.S. financial system, such an assertion is little credibility, as he has written the prestigious economics Princeton Professor, Paul Krugman. I.e., to where you talk about government intervention, it must be understood that the U.S. Government and other countries concerned, will have to scratch the Pocket. Almost a trillion dollars, according to the IMF. For a decade and half, the IMF has anathematized every Government that has acted or intended to intervene in the economy. Some serious crises, as in Argentina (which originated millions of poor people in a short time), was the result of his dogmatic conviction that had that little less than eject the State in the economic field, put an end to public enterprises, reduce disappear up to the standards of control and regulation of the sacrosanct financial world and other guidelines whose folly and damages for its implementation has been demonstrated in the last decade.