Why has the IMF come in for widespread criticism for its handling of the Asian financial crisis?

no indust Show more The promise that was to hold the Bretton Woods system together was the agreement that no industrial country would allow high rates of inflation. foreign central banks would be able to convert U.S. dollars into gold at a fixed price. no country would raise tariffs on the products of other countries. all countries would be willing to redeem their paper currencies for gold. Why has the IMF come in for widespread criticism for its handling of the Asian financial crisis? It refused to make loans to any of the countries whose currencies were under speculative attack. Its policies did not sufficiently punish speculators with losses giving rise to moral hazard. Its policies led to unsustainably low interest rates in a number of Asian countries. Its policies failed to lead to sufficient hardship for citizens in a number of Asian countries giving rise to moral hazard. Under the Bretton Woods system exchange rates were supposed to be adjusted only when a country experienced fundamental disequilibrium. daily. weekly. following each annual meeting of the board of governors of the International Monetary Fund. The paper currency of the United States is issued by state governments and the Fed. state governments and the U.S. Treasury. the U.S. Congress. the Fed. Vault cash is a(an) liability of the Fed and is counted as reserves. asset of the Fed and is counted as reserves. liability of the Fed and is not counted as reserves. asset of the Fed and is not counted as reserves. Show less

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