IMF’s Peter Doyle scorns its ’tainted’ leadership
Source: bbc.co.ukA top economist at the International Monetary Fund has poured scorn on its "tainted" leadership and said he is "ashamed" to have worked there.
Peter Doyle said in a letter to the IMF executive board that he wanted to explain his resignation after 20 years.
He writes of "incompetence", "failings" and "disastrous" appointments for the IMF’s managing director, stretching back 10 years.
Peter Doyle claims there was a "fundamental illegitimacy" in Christine Lagarde’s appointment
Mr Doyle, former adviser to the IMF’s European Department, which is running the bailout programs for Greece, Portugal and Ireland, said the Fund’s delay in warning about the urgency of the global financial crisis was a failure of the "first order".
In the letter, dated 18 June and obtained by the US broadcaster CNN, Mr Doyle said the failings of IMF surveillance of the financial crisis "are, if anything, becoming more deeply entrenched".
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