Not completely new though is the problem of non-complying countries that refuse corrective policies suggested by the IMF and supported by its membership. At some point in time, when non-compliance heightens the risk of a crisis, the IMF must go beyond confidential channels of communication with the respective country.
While we do not want the IMF to become a kind of rating agency, the IMF should under appropriate circumstances issue data information to encourage the respective authorities to correct some “dangerous policies”.