Yale Experts Deliver Groundbreaking Analysis of IMF’s Shortcomings
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New York (RichTVX.com) —
When three of the world’s foremost intellectuals collaborate to craft an article, the outcome can only be exceptional. Jeffrey Sonnenfeld holds the esteemed title of Lester Crown Professor in Management Practice and Senior Associate Dean at the Yale School of Management. Stephen S. Roach served as Chairman of Morgan Stanley Asia and Chief Economist of Morgan Stanley before assuming the role of senior fellow at Yale Law School. Meanwhile, Steven Tian, the director of research at the Yale Chief Executive Leadership Institute, was once an investment analyst at Rockefeller Capital. Their article, titled “How the IMF Repeated Putin’s False Statistics and Failed in its Economic Forecast for Russia“, presents an insightful examination of the IMF’s current situation. The IMF has predicted higher economic growth rates in Russia than the Russian central bank, but it lacks a clear understanding of the country’s economic situation. The IMF has allowed Russia to violate its own standards of membership, which require member states to disclose transparent, verifiable, and comprehensive national income statistics. Putin has refused to disclose major economic indicators, including foreign trade data and financial statements of major companies. Therefore, the IMF lacks the necessary data to independently calculate Russia’s GDP using accepted methods. Additionally, Russia’s official statistics agency, Rosstat, is known for manipulating official economic statistics. Despite these challenges, the IMF has echoed Putin’s invented GDP forecasts without verifying them, thereby legitimizing these economic myths.