Online:
Visits:
Stories:
Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

21/5/15: IMF to Russia: Do What You’ve Been Doing, Because We Say So

Thursday, May 21, 2015 20:26
% of readers think this story is Fact. Add your two cents.

(Before It's News)

trueeconomics.blogspot.com / by Constantin Gurdgiev / May 21, 2015

So the IMF released the summary statement on its Article IV ‘consultations’ for Russia. The stuff reads like something generated by a pre-historic algo with insight of a first order non-stochastic linear equation.

“The Russian economy is in a recession due to lower oil prices and sanctions. In addition, long-term growth remains low given structural bottlenecks.” You have to laugh. IMF knows that sanctions are tertiary to Russian recession. Oil prices are primary and structural slowdown that started in late 2012 is secondary.

“The authorities’ macroeconomic policies have helped stabilize the situation, but there remain significant uncertainties regarding oil prices and geopolitical risks. Given these risks, the macroeconomic policy stance must be prudent.” In IMF-speak this means that the Russian authorities did an excellent job so far managing the crisis, but they have done it without using IMF ‘advice’ or ‘tool kit’. Which means that, to IMF, they haven’t done it as well as the IMF could have done it. Obviously. Really.

So the bad Russkies better deploy the fabled IMF’s ‘structural reforms’ pack:

READ MORE

The post 21/5/15: IMF to Russia: Do What You’ve Been Doing, Because We Say So appeared first on Silver For The People.



Source: http://silveristhenew.com/2015/05/21/21515-imf-to-russia-do-what-youve-been-doing-because-we-say-so/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Total 1 comment
  • and how many of “The authorities/economists’ have ever been right about anything? you can’t ever tell, they’ve lied so often about EVERYTHING, nothing they say can be believed, EVER!

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.