In These New Times

A new paradigm for a post-imperial world

The IMF Can Print Money Like a Central Bank

Posted by seumasach on October 29, 2008

George Washington’s blog

27th october, 2008

In an article entitled “IMF may need to ‘print money’ as crisis spreads”, the Telegraph reveals that the IMF has the power to create money just like the Federal Reserve:

“The nuclear option is to print money by issuing Special Drawing Rights, in effect acting as if it were the world’s central bank. This was done briefly after the fall of the Soviet Union but has never been used as systematic tool of policy to head off a global financial crisis.

‘The IMF can in theory create liquidity like a central bank,’ said an informed source. ‘There are a lot of ideas kicking around.'”

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