Branko Milanovic over at his Substack:
A simple-minded answer to the question is, No. The IMF is entirely dedicated to preserving the world capitalist system and any socialist must disapprove of it. I think this answer is wrong. But before I explain it, I have say a few words about the Fund.
Recently, I have been involved more with the IMF and have witnessed how keen they are to remain an influential player in the 21st century. Moreover, to do that as a truly international organization under the conditions of extraordinary high worldwide tensions, threats of wars, and mercantilist trade policies.
My relations with the Fund go back to my early years in the World Bank. In those days, the Fund missions would ask the World Bank to provide one of their (junior) economists to join the Fund ostensibly to maintain communication and give to the World Bank the appearance of some decision-making role regarding social sectors and public expenditures. I thus went, very young, to about five or six Fund missions to Turkey.
The Fund missions were impressive. They benefited from an unparalleled access to government officials and to the data, but they also had excellent people to study these data. Their great advantage was (and is) access to government knowledge and information; their great disadvantage was/is lack of contact with the rest of the country. Yet, as I will argue, this never was the Fund’s mission—nor should it be.
More here.
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