The Misguided, Self-Defeating War On the IMF

Managing Director of the International Monetary Fund (IMF) Christine Lagarde arrives in front of the painting 'November 9, 1989' by Hans Peter Zimmer for a meeting in the German federal Chancellery on May 13, 2014 in Berlin, Germany. Photograph by Adam Berry-Pool/Getty Images

You have to feel a little sorry for the International Monetary Fund and its managing director, Christine Lagarde. Invited to give the commencement address at Smith College, an elite women’s college in Massachusetts, Lagarde canceled her appearance last week in the face of student protests calling the fund imperialist. Meanwhile, legislation to enable IMF voting reform is being held up by Senate Republicans concerned that under the proposed changes, the fund wouldn’t be imperialist enough—and would bolster the influence of countries such as China and Russia at the expense of the U.S.

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