The IMF gets a timely nudge on capital controls as a useful tack4 min read 19 Oct 2020, 08:44 PM IST
The arena for carry-trade will be well set, and this is expected to be the preferred sport for investors, corporate borrowers and sovereigns in the developing world
Amidst all the talk about per capita income in dollar terms prompted by the International Monetary Fund’s October update of its World Economic Outlook, came an unheralded report by its Independent Evaluation Office (IEO), on the advice that the Fund offers member countries advice on capital flows management (CFM). It is authored by IMF veteran Prakash Loungani and his team of young researchers, which includes Sriram Balasubramanian, whose father and I shared a workspace more than three decades ago in Chennai. The report could not have been better timed, given the likely need for CFM measures by emerging economies in the years ahead.
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