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IMF

There seems to be a lot of debate about the balance of funds in the International Monetary Fund’s coffers and little discussion on what impact the IMF-led structural adjustment programs are having on the economies of developing countries.

The IMF has been in Russia since 1992 and yet it is being portrayed as the savior with these latest bailouts (July 20). The IMF should be held partially accountable for not preventing some of these problems, not anticipating the crisis and often giving bad policy advice. Our Congress should oppose any further replenishment funding to expand the IMF until serious reforms of the institution can be debated.

JOHN REYNOLDS

Los Angeles

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