Dean Rohrer

¿Quién debería presidir el FMI?

BERKELEY – Muchos dicen que el Fondo Monetario Internacional ha tenido una crisis buena. Hace apenas tres años, numerosos observadores pensaban que ya había dejado de ser útil y que debía cerrar sus puertas. Desde entonces ha intervenido en Hungría, Letonia, Islandia y Ucrania, entre otros países golpeados por la crisis, y ha recibido una enorme inyección de nuevos recursos.

Parte de la explicación de esta mayor estima en que se tiene ahora al FMI es que últimamente ha demostrado flexibilidad intelectual, una virtud escasa para una burocracia grande y pesada. Ha reconsiderado su tradicional oposición a los controles de capitales. También ha sugerido que los bancos centrales pueden considerar objetivos inflacionarios más altos para evitar llegar a cero en caso de shocks deflacionarios, lo que le mereció un severo reproche por parte del Bundesbank alemán... clara señal de que está haciendo algo en la dirección correcta.

El FMI también ha creado una Línea de Crédito Flexible para desembolsar créditos rápidamente (sin condiciones onerosas) a países acosados por vientos financieros de los cuales no son responsables. El problema es que, a pesar del atractivo de su nombre, pocos han hecho uso de este recurso y, en particular, ningún país asiático.

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