Simon Johnson: belief

Transcript context

…But we don’t very much. Well, certain countries don’t get excluded, countries that have, let’s say, some geopolitical significance and a good enough relationship with the G7. Sure, maybe there should be a special recovery arm of something, but it’s very hard to create these new institutions. We haven’t really done it or done it well since 1944. So, there isn’t that much other than the IMF. I agree, Tyler, it’s extremely awkward and not clear that it’s good for the people of Pakistan to continue on this sort of trajectory. Here’s a reader question, and I’m quoting: “Ask him if Indonesia’s money-financed fiscal program in which their central bank monetized national debt has worked. The nation’s currency has modestly appreciated. The program seemed to get them through the pandemic without ill effects.” Opinion?…

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