Economic Value


In the crises of Asia and Latin America in the decade of 90, the FMI received reproaches from economists of most diverse chains because of the insistence in recommending more privations – as high taxes of interests and rigid cuts of expenses – the countries that already were sick. The FMI made its duty of house when folding the limits for the loans without condicionalidades and to flexibilizar significantly its criteria. The objective of the deep one now is to focar in the qualification of the countries before the taking of the credit, instead of imposing goals of economic policy. A new flexible credit facility, that foresees loans significant, of long stated period and without limits of renewal was created, set free soon after its approval, for countries with solid economic beddings and consistent tax policies and monetary. For the countries that if not to incase in this criterion, had also been relaxed the rules for the traditional loans of stand-by. It has many doubts between the specialists if the FMI really goes to change its culture, to abandon old prescriptions and to grant to loans countries to spend them in the reactivation of its economies instead of saving for the payment of debts.

In the meeting of the G-20, the first-minister of the United kingdom, Gordon Brown, declared that the Consensus of Washington finished – the set of rules that the politics of the FMI for Latin America. One of main the critical ones of diverse specialists lead is that it prevailed enters the world-wide leaders in the meeting of the G-20 maken a mistake perception of that she was necessary only to decide the problems of the developing countries. Practically nothing it was made so far to promote significant changes in the regulation of global the financial market, especially in the rich countries where the crisis was born. It has many doubts on if the FMI can play this role. Under the auspices of a fortified FMI and with a new paper in the global governana, the world-wide leaders well-had been succeeded in a its offensive of public relations and wave of optimism if she after spread the meeting of the G-20, culminating in one rally of the action markets. The problem is that if the promises in relation to the deep one not to start quickly if to transform into reality, everything can fall in discredit.