the next election. thank you very much for that, the next election. thank you very much for that, our the next election. thank you very much for that, our chief - the next election. thank you very much for that, our chief politicall much for that, our chief political correspondent nick eardley. we can now speak to ngaire woods, wshe is dean of the blavatnik school of government at the university of oxford and a former external advisor to the imf. juan what do you make first of all of this response from the imf? we have heard that from some commentators, yet the former brexit minister lord frost, i m looking at his quote, the imf has consistently advocated highly conventional economic policies. it is following this approach that has produced years of slow growth and weak productivity. 50 years of slow growth and weak productivity- years of slow growth and weak productivity. so look, one of the imf s productivity. so look, one of the imf s many productivity. so look, one of the im
investors both in britain and abroad are saying, hold on, why should we trust you yet you haven t shown us. us. - em e , us- even if his policy is us. even if his -oli is c-oin to even if his policy is going to deliver growth, even if his policy is going to deliver growth, and - even if his policy is going to deliver growth, and lots - even if his policy is going to deliver growth, and lots of i even if his policy is going to - deliver growth, and lots of people say this is a huge gamble, even if his policy would deliver growth, you are saying that actually the first and most important precursor to all of that is building relationships, building trust with would be investors? building trust with would-be investors? investors? that s right. i m certainly investors? that s right. i m certainly not investors? that s right. i m certainly not against - investors? that s right. i m certainly not against a - investors? that s right. i m certainly not against a big
ngaire woods is the dean of the blavatnik school of government at the university of oxford, and a former external advisor to the international monetary fund. she gave her assessment of the imf warning. one of the imf s many roles is to speak truth to power, to tell governments what they might not want to hear. but what it is that many economists, investors, etc, in the world will be thinking. so i think for good government policy you want to show that you re listening to experts, even if you disagree with them, so i think disdaining the imf, firing the long standing head of the treasury, these moves not only deprive the government of experts who really have been through this kind of thing before and know what they are talking about, but also signals to the markets and investors that this is a government that s not going to listen to those who might know more than new ministers about notjust what these policies should be but about how to land these policies. how to land these policies
The world needs to prepare for a cascade of financial crises across emerging and developing economies. The writing is already on the wall, with Ghana, Pakistan, Bangladesh, and Sri Lanka currently queuing at the International Monetary Fund’s door. Wealthier countries must now equip the IMF – the world’s financial firefighter-in-chief – to prevent and manage the spread of