IMF should be completely reformed or dissolved

Comments on Michael Stutchbury “IMF's inflation call recipe for rate hike”, 15/02/2010, http://www.theaustralian.com.au/news/opinion/imfs-inflation-call-recipe-for-rate-hike/story-e6frg6zo-1225830282996

Yes, it does look like the IMF is now working as an advocate for the US to inflate its way out of its punishing public debt, at the expense of those US T bond holders.

The IMF's formula for 4% inflation target, if it is true, proves it’s out of touch with economic reality and its panic state in the wake of its own failures as a public international finance organisation in charge of international macroeconomic policies, especially in the wake of the current financial and economic crises.

Countries have different economic situations and require different macroeconomic policies. A one size-fit-all approach advocated by the IMF will be disastrous.

The IMF should be completely reformed, or dissolved.

Australia has done well to weather the world crises and is the only developed economies that avoided a recession due to the legacy of its previously sound macroeconomic management including inflation target at 2-3%.

Why didn’t the IMF study the Australian experience?