Fundamentalists believe the IMF should provide loans to countries facing crises only if they implement major structural reforms in their banking systems. What is Joseph Stiglitz's perspective on this approach?

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It is unrealistic for the IMF to get involved in the financial markets of impoverished nations during a crisis.It is unfeasible for the IMF to offer short-term loans since reforms typically take medium to long-term to show results.It is essential for the IMF to focus on reforming a country's fiscal policy rather than its monetary policy.None of the above statements accurately reflect the situation.

Explanation

Joseph Stiglitz argues that expecting the IMF to provide short-term loans tied to fundamental reforms is impractical because such structural changes require a medium to long-term timeframe to be effective.