The International Monetary Fund staff rejected criticism by an internal auditor that the organization focused too much on countries’ foreign assets accumulation and said the report “misconstrues the motives of the fund.” The audit by the Independent Evaluation Office, which was reported by Bloomberg on Dec. 7 and made public today, said that the IMF overemphasized the risks posed by countries amassing reserve assets. The staff response was published with the report today, along with a summary of the board’s discussion…

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