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`IMF made E. Asia recession deeper, longer and harder', BUSINESS TIMES
Business Times (Malaysia), May, 2000 by Hardev Kaur
Business Times (Malaysia) 05-22-2000 WHEN Prime Minister Datuk Seri Dr. Mahathir Mohammed took to task the Bretton Woods institutions - the International Monetary Fund (IMF) and the World Bank - for causing more harm than good to developing countries, his views were disregarded and he was labeled a "mad man".
Dr. Mahathir, the outspoken leader of a developing country, supposedly did not know what he was talking about. After all, the IMF and World Bank had been in the "business" for almost 50 years. They should know their job better. Right? Well, not so as it turns out. And what's worse, the Fund does not even follow its own advice on transparency and openness. One of "the Insiders", Mr. Joseph Stiglitz, former chief economist and vice president...
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