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Archive

Simon Turmaine | May 19, 2010

WASHINGTON – The International Monetary Fund (IMF) proposal for an ex-ante tax on the banking system to pay for bailouts or recapitalisation of failing institutions is rejected as “without merit” by the industry’s most influential global association. Rejection of the proposal is made in a late-April letter from Charles Dallara, managing director, of the Washington-based Institute of International Finance (IIF) to finance ministers of the Group of 20 most economical important countries.

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