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What The Media Tell Americans About Free Enterprise

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October 1998


Time's IMF Critic

Time.comís October 7 edition of Time Daily reported on how IMF reforms often harm economies theyíre meant to help. Time business reporter Bernard Baumohl is quoted as saying that "the IMFís tough prescriptions actually pushed some of the Asian countries into depression."

But Time isnít talking about the tax increases and currency devaluations pushed by the IMF, only the budget cuts. "President Clinton and European leaders on Tuesday urged the IMF to consider the human dimension of fiscal crisis, pressing the international body to pause before automatically demanding fierce budget cuts in borrowing countries," writes Time Dailyís Tony Karon.

For Time, IMF dictates that give government more power canít be wrong.

ó Rich Noyes






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