If you don’t like your icons clasted, then a recent report from the IMF’s (International Monetary Fund) independent evaluation office (IEO) is not for you."The IMF and the crises in Greece, Ireland and Portugal: an evaluation by the [IEO]" is as damning an account of the IMF’s modus operandi as you might expect from an extreme left-wing publication.It’s difficult to know what is the most disturbing aspect of the report’s findings: the hubris, the groupthink, the incompetence, the cronyism, the suspect way Greece was given "exceptional access" to IMF resources, or just the downright mediocrity of an organisation we tend to hold in high esteem.That the report ever saw the light of day is certainly to the credit of this powerful international institution. It will be some comfort to the many developing nations that have been on the receiving end of IMF strictures to know that the IEO is vigorously independent in making its evaluations. It is the only part of the IMF that emerges with in...
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