Internal Auditor Hits IMF Handling Of 2010 Greece Bailout


Internal auditor hits IMF handling of 2010 Greece bailout

WASHINGTON, (APP - UrduPoint / Pakistan Point News - 28th july, 2016) - An independent probe into the IMF's handling of European bailouts found that it bent its rules and was vulnerable to political pressure as it embarked on the ill-fated 2010 Greece rescue.

The International Monetary Fund's Independent Evaluation Office said in its report Thursday that as it plunged into the eurozone crisis, IMF management was too close to the European situation to make accurate risk assessments, and that the executive board was poorly informed and exercised too little oversight over decisions which taxed the Fund's resources.