'One way out of this might have been an emergency allocation of SDR's. . .but the US is firmly opposed, for reasons bad and good.' However the US-based IMF is an agency of UN. Precedent: a new currency [euro] was introduced in 1999. Global public goods is surely a UN priority?
How to support the global economy: IMF and its shareholders face a huge problem. It either lends more money on easy terms without the 'collateral' of conditionality or it remains on the sidelines of this crisis says @davidlubin #COVID-19 #coronavirushttps://www.chathamhouse.org/expert/comment/imf-needs-new-thinking-deal-coronavirus?utm_source=twitter.com&utm_medium=organic-social&utm_campaign=covid-19-2020&utm_content=covid-19-IMF-new-thinking …
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To me the key question is how quick and automatic the recovery will be, making space for loan repayment. Think IMF is too optimistic on this front.https://twitter.com/davidmihalyi/status/1252916583426592768 …
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