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Resignation from IMF

Year Published:  1990  
Resource Type:  Article

Abstract:  A former permanent official of the International Monetary Fund accuses the Fund of "covert harassment and underhanded intimidation" since his resignation two years ago. Davison L. Budhoo, an economist from Grenada, resigned in 1988 to protest the Fund's treatment of development countries. When he resigned, Budhoo submitted a lengthy open letter to the IMF Managing Director, Michel Camdessus. This Open Letter, which has now been published by New Horizons Press, provides numerous examples of how the Fund's policies unnecessarily hurt Third World peoples, especially poor women, children, and other vulnerable segments of society. He charges that the IMF has consistently forced countries to follow self-defeating policies that are economically, socially, and politically unsustainable. Enough is Enough is available from New Horizons Press, Suite 9A, 777 United Nations Plaza, New York, N.Y. 10017, U.S.A., for $19.50 U.S.
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