Who Is The IMF Working For?

The IMF apologized for not having foreseen the world financial crisis. The IMF said they had disregarded the warnings of several analysts (including their own).

The IMF said: "sorry."

The IMF continues to function just as before.

A Romanian delegation to Washington is exploring the possibility of taking a loan from the IMF. Everybody says the IMF is extremely strict when signing loan agreements and enforcing the related conditions.

Things don"t seem to be too logical.

First of all, it"s not normal that the IMF should simply say "sorry" and go on as if they had just mildly stepped on the tip of our shoe on a crowded bus. The entire world is shaken by the crisis which the IMF had a duty to foresee. Normally, the IMF management should have stepped down. Normally, a conceptual restructuring should take place within the IMF. Normally, the high-ranking IMF officials who disregarded the analysts" studies foreseeing the crisis should be investigated.

Is this just plain incompetence within the IMF?

Are there some interests at play?

Were the IMF high-ranking officials paid off to ignore the studies of their own analysts?

This is not a case of paranoia.

Just a few normal questions.

It"s a great deal of money we"re talking about. Did we lose it because the world is stupid, or because the IMF is corrupt?

Should we not have an answer?

Should we settle for "sorry"?

Second of all, it is absurd to go to this IMF, whom we don"t know it belongs to and works for, to ask for a loan and accept their terms.

Third of all, there is something fishy about this story with the loan. Three years before the crisis, we had decided that the IMF and the World Bank were not appropriate financers after our accession to the European Union, so we decided to shift to the European financial organizations.

Anyway, before the crisis, we did not even think about a loan as big as 10-20 billion EUR. After the start of the crisis which the IMF managed to overlook, we turn to the IMF for money.

Is it not obvious that the IMF was interested in not warning about the crisis?