The International Monetary Fund (IMF) has admitted “notable failures” in the first Greek bailout including a deeper-than-expected recession, a run on the country’s banking system and exceptionally high unemployment. The IMF’s Review of Program Design and Conditionality provides a deep look into the design of 133 IMF-supported lending programs in … Read More »
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The IMF’s review on its Greek program was released late last night. The 51-pages document on Greece’s fiscal adjustment program 2010-2013 is more than clear: The IMF screwed Greeks for three consecutive years. The IMF failed to realize the damage austerity would do. The IMF failed to predict the real … Read More »