Michael Perelman wrote:
>Does anybody have any thoughts on the critique of the IMF by Stiglitz
>and Sachs -- that the IMF is creating a deflationary economy to save the
>banks?
This is speculation based on no solid information, but the World Bank funds
lots of infrastructure projects that provide contracts for lots of First
World companies, and the loss of the Asian market must be pretty painful
for the likes of Bechtel and GE. The IMF's mandate is purely financial. It
may be that this is one of those moments where the interests of finance and
industry diverge, and the WB-IMF tiff reflects that.
Doug
