Grenadian opposition legislator criticizes IMF

Opposition member and former finance minister Anthony Boatswain is warning that the country and other developing nations will suffer if they accept the policies and recommendations from the International Monetary Fund (IMF).



Mr Boatswain said the intervention of the Fund through its financial support programmes have done much harm to the many economies.



In making his senate contribution to Grenada’s 2010 budget debate yesterday Botswain said the intervention of the IMF has not always led to improvement.

Last year, Grenada was among a number of Caribbean countries to have received financial help from the Washington-based funding agency to help cope with the effects the global economic and financial crisis.



Earlier this month, the IMF defended its policies with regard to the Caribbean, saying it has stepped up its lending and is reforming its credit lines under a new and broader mandate.