[New York Times] IMF Press Release Bewildering

 Countries are confused as to why the IMF is discussing the implementation 

of policies countries are yet to approve of; increasing widespread suspicion 

of the IMF

October 17th, 1998


The IMF’s most recent press release has stunned the Prime Ministers of countries like Thailand and 

Indonesia, who are unsure as to why an announcement regarding policies the IMF has no control over, such 

as individual domestic fiscal/monetary policy. Some have even taken it as an insult, seeing it as if the IMF 

is mocking and insulting the sovereign decision-making of these nations. Existing protests within Thailand 

have only gained more members, as anti-IMF sentiments start to forment.

 

Other strange statements, such as the U.S., France, Italy, etc, engaging in further trade negotiations despite 

nothing actually occurring there, or a pledge of funds to France by the U.S. that has not materialised, have 

only further confused the general public.

 

Despite the fluff within the press release, the Eurobond Initiative has proven to a successful measure to 

ensure the short-term liquidity and solvency of the IMF, and the lack of funding issue has been resolved 

for now.

Location: New York, NY, USA

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