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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 7 December 2012 [View all]Demeter
(85,373 posts)11. IMF Officially Endorses Capital Controls in Reversal
http://www.bloomberg.com/news/2012-12-03/imf-officially-endorses-capital-controls-in-reversal.html
The International Monetary Fund endorsed nations use of capital controls in certain circumstances, making official a shift, which has been in the works for three years, that will guide the funds advice.
In a reversal of its historic support for unrestricted flows of money across borders, the Washington-based IMF said controls can be useful when countries have little room for economic policies such as lowering interest rates or when surging capital inflows threaten financial stability. Still, it said the measures should be targeted, temporary and not discriminate between residents and non-residents.
S.O.B.'S OF THE WORLD, I HOPE YOU GET EVERYTHING THAT'S COMING TO YOU...
Capital flows can have important benefits for individual countries across the fund membership and the global economy, IMF staff wrote in a report discussed by the board on Nov. 16 and published today. They also carry risks, however, as they can be volatile and large relative to the size of domestic markets.
Countries from Brazil to the Philippines have sought in recent years to manage inflows of capital that put upward pressure on their currencies and threatened to create asset bubbles. The new guidelines will enable the fund to provide consistent advice, though rules prevent it from imposing views about managing capital flows on its 188 member nations.
IMF Managing Director Christine Lagarde has cited the shift on capital controls as an illustration of the funds attempts to modernize...MODERNIZE, OR FACE REALITY, INCLUDING THE TUMBRILS?
MORE
The International Monetary Fund endorsed nations use of capital controls in certain circumstances, making official a shift, which has been in the works for three years, that will guide the funds advice.
In a reversal of its historic support for unrestricted flows of money across borders, the Washington-based IMF said controls can be useful when countries have little room for economic policies such as lowering interest rates or when surging capital inflows threaten financial stability. Still, it said the measures should be targeted, temporary and not discriminate between residents and non-residents.
S.O.B.'S OF THE WORLD, I HOPE YOU GET EVERYTHING THAT'S COMING TO YOU...
Capital flows can have important benefits for individual countries across the fund membership and the global economy, IMF staff wrote in a report discussed by the board on Nov. 16 and published today. They also carry risks, however, as they can be volatile and large relative to the size of domestic markets.
Countries from Brazil to the Philippines have sought in recent years to manage inflows of capital that put upward pressure on their currencies and threatened to create asset bubbles. The new guidelines will enable the fund to provide consistent advice, though rules prevent it from imposing views about managing capital flows on its 188 member nations.
IMF Managing Director Christine Lagarde has cited the shift on capital controls as an illustration of the funds attempts to modernize...MODERNIZE, OR FACE REALITY, INCLUDING THE TUMBRILS?
MORE
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