Economics
IMF Critiqued for Dropping Tough Loan Standards for Covid Funds
- Former chief economist Rogoff worries fund losing its focus
- IMF created $650 billion in reserves, pushed emergency lending
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The International Monetary Fund’s deployment of $818 billion, often without conditions, to help the world deal with the Covid-19 pandemic is spurring concern from some former officials that the institution is abandoning its focus as a hard-nosed lender of last resort for distressed economies.