World Unprepared For Next Financial Crisis: Ex-IMF Chief

The world is less well equipped to manage a major financial crisis today than it was a decade ago, according to Dominique Strauss-Kahn, a former chief of the International Monetary Fund (IMF). In an interview with AFP, the now-disgraced Strauss-Kahn— who ran the fund at the height of the 2008 financial meltdown— also said rising populism across the world is a direct result of the crisis. Strauss-Kahn resigned as head of the IMF in 2011 after being accused of attempted rape in New York, although the charges were later dropped. He settled a subsequent civil suit, reportedly with more than $1.5 million. AFP: When did you become aware that a big crisis was brewing? Strauss-Kahn: When I joined the IMF on Nov 1, 2007, it became clear quite quickly that things were not going well. That is why in January 2008, in Davos, I made a statement that made a bit of noise, asking for a global stimulus package worth two percent of each country’s GDP. In April 2008, during the IMF...

from GoldBroker.com https://www.goldbroker.com/news/world-unprepared-for-next-financial-crisis-ex-imf-chief-strauss-kahn-1388