IMFs 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 IMFs managing director, stretching back 10 years.


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

Mr Doyle, former adviser to the IMFs European Department, which is running the bailout programs for Greece, Portugal and Ireland, said the Funds 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




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