There’s something funny and sad about the IMF writing a report that talks about the necessity for “decisive policy action” three weeks into a major crisis. Right now anything that the IMF writes is pretty useless. What would have been useful is to teleport that report back in time six months. This is a really pompous quote
The time for piecemeal solutions is over. I therefore call on policymakers to urgently address the crisis at a national level with comprehensive measures to restore confidence in the financial sector. At the same time, national governments must closely coordinate these efforts to bring about a return to stability in the international financial system
Geeze. I call on the moon to rise and the sun to shine.