A few closing thoughts from the IMF's autumn meetings;
1. The International Monetary Fund hasn't got much hope. It doesn't do a lot of lending any more and it seems to be mutating into a think tank. It doesn't say much that, having hogged the post, the Europeans have delivered two bosses in a row who haven't completed their term. It needs some vision. Maybe the new Frenchman, Dominique Strauss-Kahn will deliver it. It needs to reform its governance and find a new purpose. Maybe they could start by turning themselves into quasi regulators of the world banking system...
2. All the bankers talk about the fact that everyone could see the credit crisis coming, and many warned about it, but no one actually did anything about it. "Lessons will be learned" they intone, but they always say that. Doesn't fill one with confidence. Behind the banking problems in the West lie bigger economic strains...
3. The world economy's "imbalances" - Chinese surpluses, US deficits - won't get fixed while we have a system where half the world's currencies are fixed and the other half aren't, so...
4. China needs to be brought onto the international top table, along with Russia, India and Brazil, and given a proper say at the G7, at the IMF and at the World Bank. Then they might consider floating their yuan. Which takes us back to the first point - a certain lack of leadership in international economics...
Econoblog: IMF goodbye
Sean O'Grady
The IMF stands fro International Monetary Fund. I see very little of these in the poor countries. It is right that we have graft but not all apples in the box make the apples rotten. Tanzania for example is riled with graft has no freedom of speech and is anarchy but the expatriates from other countries seem to have lots of fun in the coastal lines of Tanzania. That keeps many happy bur overall the public’s outcry is,” Things are becoming very difficult, expensive and no one wants to listen”.
With that, UN and the Great clubs have left Tanzania to mend their ways that are very difficult. The graft is in the inheritance and cannot be done away with over years.
I thank you
Firozali A.Mulla MBA PhD
P.O.Box 6044
Dar-Es-Salaam
Tanzania
East Africa
Posted by: Firozali A.Mulla MBA PhD | Wednesday, 24 October 2007 at 10:24 PM
African produce to lose organic labelling
By Martin Hickman and Steve Bloomfield in Nairobi
Published: 25 October 2007
Here is the proof of the African continent use. Give few bucks and make them work hard. The colonial era is still on. I think this is what I call the era that will reaming in the clutches of the British, American, The IMF, The Great 8, or the rich powerful countries
. There is no aid given unless there are strings attached to this. Let us see what the year of the2008 brings
I thank you
Firozali A.Mulla MBA PhD
P.O.Box 6044
Dar-Es-Salaam
Tanzania
East Africa
Posted by: Firozali A.Mulla MBA PhD | Thursday, 25 October 2007 at 08:19 AM