IMF Managing Director Dominique Strauss-Kahn provided a good picture of what has happened to the global economy over the last few years through a simple heat map. He refers to the problem as global financial warming and cooling. Clearly, this is a global problem that needs the IMF to provide support. The crisis is affecting all members whether in the developed or emerging markets.
http://www.imf.org/external/np/tr/2008/100908.pdf
We believe the lending facilities of the IMF are necessary to providing another means of global coordination. If the IMF does not act now, when will it provide support?
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