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Tue, Dec 25, 2001 - Page 19 News List

The hazards and morals in the IMF's new way of thinking

Argentina's collapse into near chaos lends weight to the suggestion that sovereign nations in difficulties should be given temporary protection from creditors

By Patrick Smith  /  BLOOMBERG , WASHINGTON

But one is left to wonder. We haven't seen precisely a flood of alternative ideas issuing from Wall Street since the Krueger speech, which is telling. As it stands, Argentina seems to be the alternative, and that is a very bad idea.

Patrick Smith is a former correspondent in Asia and the author of Japan: A Reinterpretation. The opinions expressed are his own.

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