IMF/Capital flight: IMF I was a rich man

The US is arguing for a coordinated global stimulus. It also wants to beef up the International Monetary Fund. Washington wants to add a whopping $500bn to the IMF’s capital, twice what the fund itself has asked for. The idea makes sense. True, ambitious stimulus packages in advanced economies could help the rest of the world. Emerging and developing markets have been hit hard by the drop in commodity prices. Lower remittances, which make up to 40% of some nations’ GDP, have put a dent in many e...