The Greek and Ukrainian debt crises have highlighted the torment that countries can face when left with no choice but to resort to a bailout from international institutions such as the IMF. With funds conditional on painful austerity measures and governance reforms, the social and political consequences can cut deep. But are these measures always effective, or even benevolent? And can alternatives such as the rising BRICS bank offer a more reasonable solution? Oksana is joined by Paulo Nogueira Batista Jr, executive director at the International Monetary Fund, for the bottom line on these issues.
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