IMF says not recanting on neoliberalism, austerity

WASHINGTON, D.C.: The International Monetary Fund’s (IMF) top economist said on Thursday that the global crisis lender is not abandoning its much-criticized neoliberal approach to boosting economic growth.

Responding to an article by three other IMF economists that sparked widespread reports that the Fund was pulling back from a pro-markets, pro-austerity and slim-government agenda, Maurice Obstfeld said the article was “widely misinterpreted.”