“Developing Nations Told to Streamline Economies Further” Art Pine. WSJ 9/13/84

Main Point: In a report issued in advance of the IMF’s yearly meeting, the IMF warns that developing countries “will have to take additional steps to streamline their economies before they can ease up on their austerity programs.”

Summary: The IMF wants developing countries to improve exchange rates, eliminate price and wage controls, and remove restrictions on trade and the movement of capital.

Although the global economy has improved, and inflation is at the lowest point in 15 years, IMF still sees danger in high interest rates worldwide. The IMF “urged governments to trim their budget deficits to avert a credit crunch that could send interest rates higher.”

Summary by William Davis