Letter: IMF is just doing its job, calling out the UK’s stance
From Ajay Chhibber, Distinguished Visiting Scholar, Institute for International Economic Policy, George Washington University
The article “IMF attack on Britain divides opinion” (Report, October 1) was not so much an attack on Britain as an admonishment of the irresponsible and erratic fiscal policy of the new UK government led by Prime Minister Liz Truss and Kwasi Kwarteng, her chancellor. The IMF has in the past been accused of soft-pedalling and self-censorship when it comes to bad policies in richer countries, especially in the G7, and it is good to see it step up to the plate and call it as it sees it — a poorly designed fiscal programme in an advanced G7 country. The IMF must be the premier institution for global macroeconomic policy and financial stability. It must be allowed to provide proper surveillance and comment on G7 country policies which can harm themselves but also have huge spillover effects on the global economy.
Ajay Chhibber Distinguished Visiting Scholar, Institute for International Economic Policy, George Washington University; Non-Resident Senior Fellow, The Atlantic Council, Washington, DC, US
