FIND A HOME-GROWN PLAN and stay away from the International Monetary Fund (IMF) for as long as you can.
That’s the advice Central Bank of Denmark Governor Per Callesen has for countries in economic difficulty.
And while he called credit rating agencies “fairly reasonable people”, Callesen said there was a need for “five or ten” of these entities to ensure the few existing agencies had competition.
He shared these views during a wide-ranging discussion with the media at the Central Bank before leaving the island yesterday.
The economist said he was “a strong proponent” of the IMF and that based on the experience of some European countries, it could be “extremely helpful”. (SC)
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