Friday, June 6, 2014

How can Christine Lagarde, of the IMF, say such things on the Amartya Sen Lecture?

Invited to speak on the Amartya Sen Lecture, ChristineLagarde said “In more unequal societies, too many people lack the basic tools to get ahead—decent nutrition, healthcare, education, skills, and finance. This can create a vicious cycle”

Yes! Indeed. And IMF should be ashamed of not criticizing the risk-weighted capital requirements for banks that so discriminates “the risky”, the medium and small businesses, the entrepreneurs and the start-ups from a fair access to bank credit.

Twice I have told her about it, here and here, and yet, acknowledging the problem, she seemingly does not care.