The social democrats from Washington – the IMF – have been in town, and today released their preliminary report. It is quite strikingly different to the last one, released in March last year. The so-called Concluding Statement, at the end of the team’s 10 days or so in New Zealand, isn’t very long, and can’t cover lots of things in depth, so keep that in mind as you read the rest of this post.
The mission team will have spent a lot of time with Treasury and Reserve Bank staff. Indeed, the draft of the Concluding Statement will have been haggled over in a meeting with fairly senior officials from the two agencies, and it is pretty rare for the final product to contain anything that those agencies have much disagreement with. Indeed, Fund missions can get so close to staff in the host countries that even when two…
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Utopia, you are standing in it! 
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