Monday 23 October 2017

Boom-bust expert's blog a telling tale

Fiach Kelly

THE man heading up the IMF's mission to Ireland has plenty of experience in dealing with financial crises.

Indian Ajai Chopra is deputy director of the IMF's European department and led the IMF's mission to South Korea to help with a financial crisis there in 1997.

Mr Chopra is also the mission chief for the UK and is an expert on boom and bust economics.

He has been at the IMF for over two decades and is described on the fund's website as having experience that "spans various continents".

He recently took part in the Brussels Economic Forum, the major platform for economic debate within the EU, overseen by Economic and Financial Affairs commissioner Olli Rehn.

He maintains a blog on the IMF's website, where he has charted the financial crisis over the past two years.

A recent post focused on the difficulties of the "boom-bust cycle" of the countries of eastern Europe -- but some of the posts could just as easily apply to Ireland.

"While the crisis was triggered by external shocks, it is clear that domestic imbalances and policies also played a key role," Mr Chopra wrote on October 20.

He is expected to lead a delegation of around 10 to 12 IMF officials, including banking experts, in Dublin.

While Mr Chopra began preliminary work yesterday, the rest of his team are on their way.

Irish Independent

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