Anthony Faiola at the Washington Post reports on the dwindling role of the IMF.This was highlighted recently when Ghana refused the IMF's advice for a smaller infrastructure bond sale than the country itself required:
"It takes a while for your parent to realize that you are mature enough to make your own decisions, but they eventually do because they have no choice," said Sam Mensah, one of Ghana's senior negotiators with the IMF. "Ghana has outgrown the fund's money just as many countries have. . . . And I think the big question for the fund now is how is it going to stay relevant. To do that, it needs to operate very differently than it has in the past."
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