IMF"s Bail-Out Road to Hell or Heaven?
It appears that 32 countries among 89 countries which have received bail-outs from the IMF have come to be poorer compared to before the IMF bail out.The Samsung Economic Research Institute pointed out in a report released on September 23 that 48 countries' economic situation among 89 countries have not improved at all from the IMF's bail-out
The institute asserted that the IMF's retrenchment policy resulted in real economic shrinkage and social concern.
The report, therefore, pointed out that it is necessary for Korea to develop its own measures to overcome the current crisis.
The report recommended that transparency and consistency of governmental policies and quick restructuring including deregulation and tax reduction are needed.
with the Korea JoongAng Daily
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