Sir, Lawrence Summers is certainly correct in asserting that the right focus of the European countries must be on restoring economic growth if they are to restore fiscal sustainability (“Growth not austerity is the best...

A principal objective of the International Monetary Fund (IMF) is to promote exchange stability, maintain orderly exchange arrangements among member countries, and avoid competitive exchange depreciations. In today’s world of large global payment imbalances, the importance of attaining these objectives cannot be overestimated.This seminar will discuss the reforms...