IMF’s Peter Doyle scorns its ’tainted’ leadership
2012-07-20 0:00

By Andrew Walker | BBCNews

A top economist at the International Monetary Fund has poured scorn on its "tainted" leadership and said he is "ashamed" to have worked there.

Peter Doyle said in a letter to the IMF executive board that he wanted to explain his resignation after 20 years.

He writes of "incompetence", "failings" and "disastrous" appointments for the IMF’s managing director, stretching back 10 years.


Peter Doyle claims there was a "fundamental illegitimacy" in Christine Lagarde’s appointment
No one from the Washington-based IMF was immediately available for comment.

Mr Doyle, former adviser to the IMF’s European Department, which is running the bailout programs for Greece, Portugal and Ireland, said the Fund’s delay in warning about the urgency of the global financial crisis was a failure of the "first order".

In the letter, dated 18 June and obtained by the US broadcaster CNN, Mr Doyle said the failings of IMF surveillance of the financial crisis "are, if anything, becoming more deeply entrenched".

[...]



Read the full article at: bbc.co.uk




Related Articles
IMF Head and Sarkozy embroiled in new corruption inquiry
IMF says Spanish banks need at least $50-billion in aid
IMF tells Germany to do more for eurozone
Anonymous Hacks Greek Ministry Website, Demands IMF Withdrawal, Threatens It Will Wipe Away All Citizen Debts
IMF Seeks $500B Boost to Lending Resources (This money comes from countries already in debt to the IMF!)
Escobar: IMF hungry for cash but hangs on to power (Video)
Gerald Celente: Raping - part of IMF business


Latest News from our Front Page

"Too many white people" in Pittsburgh says government official
2015-07-31 2:14
According to Abby Wilson, the deputy director of the Department of Health’s Bureau of Public Policy and Community Relations in Allegheny County, there are too many White people in Pittsburgh. She left Pittsburgh to work in South Africa and then study in the Netherlands, but now that she’s back, she wants to change it. “My two main gripes (about Pittsburgh) are: too ...
Judge blocks group from releasing more Planned Parenthood videos
2015-07-31 2:35
The pro-life group behind a series of undercover Planned Parenthood videos accused the bioservice firm StemExpress late Wednesday of trying to “cover up this illegal baby parts trade” after the company obtained a court order blocking the release of footage. The Los Angeles Superior Court issued a temporary injunction Tuesday stopping the Center for Medical Progress from releasing any video showing ...
US Fish & Wildlife Service Investigating Killing Of Cecil The Lion
2015-07-31 2:18
The U.S. Fish and Wildlife Service announced that the agency is investigating the killing of Cecil the Lion, saying it will “go where facts lead.” The agency made the announcement via Twitter Thursday. Also Thursday, the Eden Prairie Police Department said that, while they will be stepping up neighborhood monitoring, they will not be providing personal protection for the dentist who killed ...
Dispute over bounced check caused brutal Hollywood shotgun killing: Cops
2015-07-31 2:40
Carrie Melvin, an aspiring Hollywood production assistant, was strolling with her boyfriend not far from Sunset Boulevard on the evening of July 5 when someone murdered her with a shotgun. Police have now arrested a suspect, Ezeoma Obioha, 31, and say his motivation was likely a dispute over a bounced check worth just a few hundred dollars. A Los Angeles ...
California Drought Could Wipe Cities Off Map If Their Water Runs Out
2015-07-31 2:28
The epicenter of California’s drought crisis is in the Central Valley, where there are growing fears the drought could wipe entire towns off of the map. Wells are going dry, jobs are harder to come by and families are already moving, either to different states or even Mexico in search of work. Before visiting Tulare County, a place where wells have gone ...
More News »