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The Indicator from Planet Money

The IMF, explained

The Indicator from Planet Money

NPR

Business

4.79.2K Ratings

🗓️ 13 October 2022

⏱️ 10 minutes

🧾️ Download transcript

Summary

The IMF has been in the news for its criticism of the UK government's recent budget. But what exactly is the organization, and how does it fulfill its mission to achieve global economic prosperity?

Transcript

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0:00.0

NPR.

0:11.7

This is the Interkittive Reply to Money.

0:12.9

I'm Adrian Ma.

0:13.9

And I'm Paddy Hirsch.

0:14.9

When the United Kingdom went into meltdown recently with the pound falling to historic

0:19.0

lows against the dollar and the yield on government bonds soaring into the stratosphere,

0:24.1

there was the usual media noise and the customary political hand ringing.

0:28.2

And then something that shocked the business world.

0:31.4

An international organization released a highly critical statement about the UK government.

0:36.2

It said Britain's most recent budget would likely increase inequality and that it was

0:40.6

quote, engaged with UK authorities.

0:43.5

Oh, yeah.

0:44.5

It's the kind of gloomy thing this organization usually says about economically vulnerable countries,

0:49.8

not like really wealthy ones like the UK.

0:52.4

And the name of this organization, well, let me leave it to its most famous member to

0:56.5

make the introduction.

0:57.5

I work for an agency.

0:58.5

It's called IMF.

0:59.5

What does that say, for?

1:02.5

Impossible mission force.

1:04.5

I'm not kidding.

1:08.5

Actually, we are kidding.

...

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