Less than two weeks ago, the International Monetary Fund’s executive board, its highest authority, assessed Libya’s economy and commended its government for its “ambitious reform agenda.” The IMF also welcomed its “strong macroeconomic performance and the progress on enhancing the role of the private sector,” and “encouraged” the authorities to continue on that promising path.
Unfortunate timing. The fund’s mission to Tripoli had somehow omitted to check whether the ambitious reform agenda was based on any kind of popular support.
Libya is not an isolated case. And the IMF doesn’t look good after it gave glowing reviews to many of the countries shaken by popular revolts in recent weeks. Tunisia was hailed last September for its “wide-ranging structural reforms” and “prudent macroeconomic management.”
More at the NY Times...
Currently rated 4.2 by 5 people
- Currently 4.2/5 Stars.
- 1
- 2
- 3
- 4
- 5