Updated: 5/16/2006; 2:14:36 PM.

Current events
Post-9-11 events and analyses


daily link  Saturday, March 06, 2004


IMF marginal for emerging markets: "In just 10 years, from 1991 to 2001, capital flows to emerging markets from the official sector, governments and bodies like the Fund halved to $36.5 billion, while private sector flows rose to $160 billion from $62 billion.  The IMF itself in fiscal year 2003 lent 29.4 billion special drawing rights, its currency unit which is composed of a basket of other currencies, worth around $20 billion.

"The IMF is in search of a new role, who leads it is probably irrelevant," said Paul Luke, an emerging market veteran who now runs a specialist emerging markets investment house Convivo Capital Management.  "The IMF share of world credit has collapsed, it is a fractional player, in large part because the developing world has sorted itself out and is now a net lender to the developed world," Luke said. "  8:57:51 AM  permalink  

 
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Copyright 2006 © Ken Novak.
Last update: 5/16/2006; 2:14:36 PM.