RR Phantom
Location : Wasted Space Job/hobbies : Cayman Islands Actuary
| Subject: Statist Scum: G24 nations reject IMF plan on capital Fri Apr 15, 2011 8:18 pm | |
| The Group of 24 emerging and developing economies on Thursday rejected an International Monetary Fund plan for managing capital flows, saying measures should be up to the individual country to decide.
The finance ministers of the G24, which includes notably Brazil, India and Mexico, insisted on having the flexibility to deal with excessive capital inflows that can spur inflation and drive their currencies higher.
"Ministers did not agree with the proposed framework for staff advice to member countries on managing capital flows," they said on the sidelines of the annual spring meetings of the IMF and World Bank in Washington.
ANCAPS: ANARCHO-CAPITALISTS |
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