IMF Policies Stunt Growth in Developing Asian Economies
-
The IMF provided loans to Asian countries in the 1990s, but imposed austerity policies that left economies vulnerable.
-
Malaysia rejected the IMF's loan and policies during the 1997 crisis, criticizing the focus on debt over growth.
-
Pakistan has been subjected to repeated IMF bailouts and harsh economic policies, stunting growth.
-
IMF policies like high interest rates have increased public debt and unemployment in Pakistan.
-
The IMF's one-size-fits-all approach is ill-suited to developing economies; policies should address unique needs.