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He believes that the IMF has a narrow view stating that "what the financial community views as good for the global economy is good for the global economy and should be done". Stiglitz criticizes that the IMF has done great damage to the countries wherein they prescribe economic policies that must be followed in order to qualify for an IMF loan, or for loans from banks and other private-sector lenders that look to the IMF to indicate whether a borrower is creditworthy. Stiglitz argues that the International Monetary Fund and its officials have ignored the ramifications of having incomplete information, inadequate markets, and unworkable situations, all of which are particularly present characteristics of newly developing countries...
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