> Hi. Firstly, when I send a message here, it should already be
> presumed that I am "[l]eaving aside the IMF's obvious sado-monetarist
> reflexes - the usual panegyrics to deficit-cutting, privatization and
> related madness."
Oh, I wasn't attacking you at all -- I was critiquing the IMF's piece, or more precisely, their policy prescriptions. Their data, for all its problems, has always been helpful.
> Secondly, it is well known that a substantial number of "developing
> countries" have been over-accumulating reserves (and not only China).
Very true. The great irony is that Russia and Brazil are now buying chunks of IMF bonds with their reserves, which means the place is about to experience "new management".
-- DRR