ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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A Developing Country Perspective

IMF and the Eurozone

The International Monetary Fund has made an assessment that an additional global fi rewall of $1.1 trillion is required to address the fallout of the eurozone crisis. But a number of very valid reasons make it clear that the European Central Bank or some other quasi-fi scal mechanism, rather than the IMF must be empowered by the eurozone authorities to provide the liquidity required. The IMF's resources should be used primarily for developing countries that lose market access to reserve currencies and need to square their international payments.

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