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© Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.World finance officials pledge more resources to aid growth
By MARTIN CRUTSINGER and MARIA DANILOVA WASHINGTON©2024 GPlusMedia Inc.
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oftopico
The IMF “No sovereign bond left behind”: albeit its mandate include helping members to negotiate debt restructuring and orderly defaults, under Christine Lagarde the IMF has evolved into a machine whose whole strength seems devoted to avoiding the “dishonor” of a default, no matter the costs. Given central banks such as the Bank of Japan buying up ever sovereign bond that isn’t nailed down and sequestering them in their virtual vaults, this is odd behavior.