Mr Grenville goes on to conclude that the countries in south-east Asia should do as they please in the future, as long as they toe the line of the Washington Consensus. His account mirrors the perennial IMF storyline. In May 2004, the IMF’s Independent Evaluation Office published Mr Grenville’s consulting report “The IMF and the Indonesian Crisis”. It is remarkable not for what it says, but for what is swept under the rug.
In Indonesia, the mere mention of the IMF elicits what Mr Grenville labels “excessive paranoia”. Should the Indonesians’ paranoia be only moderate?
Steve H. Hanke,
The Johns Hopkins University,
Baltimore, MD 21218, US