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International Monetary Fund

International Monetary Fund

The International Monetary Fund (IMF) is an international organization that was created on July 22, 1944 at the Bretton Woods Conference and came into existence on December 27, 1945 when 29 countries signed the Articles of Agreement.

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IMF head regrets that her remarks on Greek suffering were 'misunderstood and caused offense'

The International Monetary Fund's top official has expressed regrets for comments about Greeks' suffering during their debt crisis.

Managing Director Christine Lagarde told Britain's The Guardian last week she has more sympathy for poor African children than for Greeks who are struggling through economic problems and austerity measures. She suggested that Greeks could make things better if more people paid their taxes."''I think more of the little kids from a school in a little village in Niger who get teaching two hours a day, sharing one chair for three of them, and who are very keen to get an education," she said in the interviewIMF spokesman Gerry Rice said Thursday that Lagarde told the IMF board this week that "she regrets that her remarks were misunderstood and caused offense."He added that Lagarde and the IMF have "great respect for Greece and the people and the sacrifices that many are making to overcome the economic crisis."Greece's economy is being kept afloat on internationa...

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