REGIME CHANGE?

摘要

In the months before the meetings of the inter-national Monetary Fund and World Bank in April, the IMF appeared to be in its twilight. Since the Turkish lira collapsed in 2000, there has been a dearth of financial crises (for the IMF to "manage") and of countries to shower with cheap loans. Also, IMF borrowers from past crises—including Russia, Argentina and Brazil—have repaid their loans ahead of schedule. The IMF's loan portfolio and operating income are shrinking. By its own estimates, the IMF will sustain operating losses of $600 million over the next three years.