TICKER - The IMF's Bold Attempt To Reduce Global Imbalances Is Ever So Quietly Fizzling Out
The mission was grandiose: Save the global economy from the risk of a collapse in the dollar and, in the process, redefine the role of the International Monetary Fund. But nine months after the IMF launched an ambitious series of consultations aimed at reducing the massive U.S. current-account deficit and rebalancing the world economy, there is little to be shown for the initiative.