Will the Bush administration retreat from hardline unilateralism when it comes to aid for Argentina?
Regions / Argentina
The reverberations from the Asian financial crisis of 1997-98 enmeshed the International Monetary Fund (IMF) in a major legitimacy crisis over its recently assumed mission to promote free capital mobility around the globe.
The U.S. needs to resume its original Bretton Woods perspective.
The policies of the IMF are not only backed by the U.S. government and its allies, but also by powerful elites in low-income countries. Yet the economic case for change is overwhelming