What is IMF’s watchdog’s criticism?

The International Monetary Fund’s own watchdog has criticized the agency saying it called off austerity too soon after the financial crisis. A new report from the IMF’s independent valuation office says the advice was less effective in promoting recovery and was detrimental to emerging markets. The report says that much of the research including the IMPs own suggested that government tax and spending policies are particularly effective following a financial crisis. Instead the IMF advised using interest rates and the policy on its quantitative easing which, the report argues, were less likely to work.

A painting sold by the auction house Sotheby’s in London for 83, 000 dollars is at the center of a legal battle amid claims that it could be the work of the Baroque-Italian master Caravaggio and worth over 20 million dollars. In 2006 the then owner of the painting Bill S. asked Sothehy’s for their opinion. They said it was a replica. The owner then sold it bat the buyer claimed it was an original. It’s called the Card Shops, and it depicts a wealthy young man at a card table falling victim to two cheats.