Barrett Sheridan

As Crisis Grows, Countries Turn To The IMF

The International Monetary Fund has roared back from irrelevancy, with a central role in the fight against the global credit contagion. Only poor debtor nations have doubts, because once again, the IMF is urging budget austerity on some borrowers, even as rich nations roll out eyepopping spending plans to fight recession.Already, Hungary and Ukraine have reluctantly tapped the fund for loans totaling $32 billion, in exchange for belt-tightening.