Argentina and the Fund - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Argentina and the Fund write by Michael Mussa. This book was released on 2002. Argentina and the Fund available in PDF, EPUB and Kindle. The catastrophic crisis of late 2001 and early 2002 marks the tragic end to Argentina's initially successful, decade-long experiment with sound money and market-oriented economic reform. The IMF consistently Supported Argentina's stabilization and reform efforts in the decade leading up to the current crisis and often pointed to many of Argentina's policies as examples for other emerging-market economies to emulate. In this policy analysis, former IMF Chief Economist Michael Mussa addresses the obvious question: What went wrong in Argentina and what important errors did the IMF make in either supporting inappropriate policies or in failing to press for alternatives that might have avoided catastrophe? He emphasizes that the persistent inability of the Argentine authorities at all levels to run a responsible fiscal policy--even when the Argentine economy was performing very well--was the primary avoidable cause of the country's catastrophic financial collapse. The IMF failed to press aggressively for a more responsible fiscal policy. Mussa also addresses the role of the Convertibility Plan, which linked the Argentine peso rigidly at parity with the US dollar and played a central role in both the initial success and ultimate collapse of Argentina's stabilization and reform efforts. While the IMF accepted this plan as a basic policy choice of the Argentine authorities so long as it remained viable, it erred in the summer of 2001 by extending further massive support for unsustainable policies, rather than insisting on a new policy strategy that might have mitigated some of the damage from a crisis that had become unavoidable. Mussa lays out what needs to be done to restore economic andfinancial stability in Argentina and begin the process of recovery, including the proper role of the IMF and the international community. He also examines what the IMF can do to avoid repeating the types of mistakes it made in t
The International Monetary Fund and Latin America
The International Monetary Fund and Latin America - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The International Monetary Fund and Latin America write by Claudia Kedar. This book was released on 2013. The International Monetary Fund and Latin America available in PDF, EPUB and Kindle. The International Monetary Fund (IMF) has played a critical role in the global economy since the postwar era. But, claims Claudia Kedar, behind the strictly economic aspects of the IMF’s intervention, there are influential interactions between IMF technocrats and local economists—even when countries are not borrowing money. In The International Monetary Fund and Latin America, Kedar seeks to expose the motivations and constraints of the operations of both the IMF and borrowers. With access to never-before-seen archive materials, Kedar reveals both the routine and behind-the-scenes practices that have depicted International Monetary Fund–Latin American relations in general and the asymmetrical IMF-Argentina relations in particular. Kedar also analyzes the “routine of dependency” that characterizes IMF-borrower relations with several Latin American countries such as Chile, Peru, and Brazil. The International Monetary Fund and Latin America shows how debtor countries have adopted IMF’s policies during past decades and why Latin American leaders today largely refrain from knocking at the IMF’s doors again.
Lessons from the Crisis in Argentina
Lessons from the Crisis in Argentina - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Lessons from the Crisis in Argentina write by Ms.Christina Daseking. This book was released on 2005-02-10. Lessons from the Crisis in Argentina available in PDF, EPUB and Kindle. In 2001- 02, Argentina experienced one of the worst economic crises in its history. A default on government debt, which occurred against the backdrop of a prolonged recession, sent the Argentine currency and economy into a tailspin. Although the economy has since recovered from the worst, the crisis has imposed hardships on the people of Argentina, and the road back to sustained growth and stability is long. The crisis was all the more troubling in light of the fact that Argentina was widely considered a model reformer and was engaged in a succession of IMF-supported programs through much of the 1990s. This Occasional Paper examines the origins of the crisis and its evolution up to early 2002 and draws general policy lessons, both for countries’ efforts to prevent crises and for the IMF’s surveillance and use of its financial resources.
The IMF and Argentina, 1991-2001
The IMF and Argentina, 1991-2001 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The IMF and Argentina, 1991-2001 write by Mrs.Isabelle Mateos y Lago. This book was released on 2004-09-30. The IMF and Argentina, 1991-2001 available in PDF, EPUB and Kindle. This report evaluates the role of the IMF in Argentina during 1991-2001, focusing particularly on the period of crisis management from 2000 until early 2002. The primary purpose of the evaluation is to draw lessons for the IMF in its future operational work. The evaluation suggests ten lessons, in the areas of surveillance and program design, crisis management, and the decision-making process, and, on the basis of these lessons, offers six sets of recommendations to improve the effectiveness of IMF policies and procedures.
And the Money Kept Rolling In (and Out) Wall Street, the IMF, and the Bankrupting of Argentina
And the Money Kept Rolling In (and Out) Wall Street, the IMF, and the Bankrupting of Argentina - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook And the Money Kept Rolling In (and Out) Wall Street, the IMF, and the Bankrupting of Argentina write by Paul Blustein. This book was released on 2006-04-04. And the Money Kept Rolling In (and Out) Wall Street, the IMF, and the Bankrupting of Argentina available in PDF, EPUB and Kindle. In the 1990s, few countries were more lionized than Argentina for its efforts to join the club of wealthy nations. Argentina's policies drew enthusiastic applause from the IMF, the World Bank and Wall Street. But the club has a disturbing propensity to turn its back on arrivistes and cast them out. That was what happened in 2001, when Argentina suffered one of the most spectacular crashes in modern history. With it came appalling social and political chaos, a collapse of the peso, and a wrenching downturn that threw millions into poverty and left nearly one-quarter of the workforce unemployed. Paul Blustein, whose book about the IMF, The Chastening, was called "gripping, often frightening" by The Economist and lauded by the Wall Street Journal as "a superbly reported and skillfully woven story," now gets right inside Argentina's rise and fall in a dramatic account based on hundreds of interviews with top policymakers and financial market players as well as reams of internal documents. He shows how the IMF turned a blind eye to the vulnerabilities of its star pupil, and exposes the conduct of global financial market players in Argentina as redolent of the scandals -- like those at Enron, WorldCom and Global Crossing -- that rocked Wall Street in recent years. By going behind the scenes of Argentina's debacle, Blustein shows with unmistakable clarity how sadly elusive the path of hope and progress remains to the great bulk of humanity still mired in poverty and underdevelopment.
