摘要
THE ostensibly innocuous report,en-titled“International Reserves:IMF Concerns and Country Perspectives,”published by the IMF last year con-tained an explosive admission:the IMF had crit-icized a number of countries,China included,in a way it euphemistically described as“not helpful.”The report conceded that these criticisms were based on assessments and discussions that were“pro forma”and,in a display of art-ful diplomatic understatement,noted that,“the analytical underpinnings of IMF Management's emphasis on the dangers of excessive reserves for the international monetary system were not persuasive.”
