AUTHOR'S BIO
Hector R. Torres
Hector R. Torres, is a former Executive Director of the IMF and a former Chair of the G-24 Bureau in Washington, D.C.
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Capital Controls or Protectionism
Hector R. Torres Series: Frontiers of Growth 2011-05-23In its recent World Economic Outlook, the IMF recommends monetary tightening in emerging markets and continued monetary accommodation in the advanced economies. Alas, both pieces of advice could breed protectionism if not accompanied by effective capital controls.... read Comments: 0 Recommended: 0 Read: 4401
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The Bankrupt Theology of Financial Deregulation
Hector R. Torres Series: Frontiers of Growth 2010-04-19
The IMF is, or should be, the world's financial watchdog, and many believe that it failed to foresee the recent crisis because it was distracted or looking in the wrong places. But the real problem is that the IMF was too ideologically blinkered to be able to interpret the evidence sitting right under its nose.... read Comments: 1 Recommended: 0 Read: 18382
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The Idle Fireman
Hector R. Torres Series: Frontiers of Growth 2008-09-30One of the IMF's main purposes is to “give confidence to members by making [its] general resources temporarily available to them.” But, because the Fund lacks the capacity to provide quick, automatic, meaningful, and front-loaded financial support to emerging economies facing external shocks, accumulating and pooling reserves has become a more reliable option for these countries.... read Comments: 0 Recommended: 0 Read: 14139
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Could the IMF Have Prevented This Crisis?
Hector R. Torres Series: Frontiers of Growth 2008-04-04The IMF has always been quick to point out developing countries' economic vulnerabilities and demand that their government's redress them. But when it came to the US, the Fund sat on its hands, issuing one sanguine report after another about the mortgage market until the problem blew up.... read Comments: 0 Recommended: 0 Read: 21001
