Subbarao criticizes IMF over prediction of financial crisis

...Advice by the Fund should stem from a complete understanding of not only macroeconomic, but also social and political settings of a country. Advice should be founded on hard evidence and driven by facts. Ideology should not play any role in analysis of facts,” Subbarao said at a seminar on strengthening IMF surveillance at the IMF spring meetings seminar in Washington on Tuesday. “The IMF must be open to criticism and advice.”........

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