Increased IMF Funding without Reforms?
G20 countries should think twice
The G20 summit meeting in London on April 2nd will have a lot on its plate and will certainly fall short of expectations. There is a world recession, the worst for more than 60 years, and the immediate problem of how to get out of it through fiscal and monetary stimulus. Then there is regulatory reform. And sadly, last on the agenda is aid for the poorest countries that pay the biggest price in human terms for a disaster caused mainly by the richest people in the richest countries. By Mark Weisbrot
Official logo
The G20 will also have to make some decisions about the International Monetary Fund (IMF): How much money will they get and what will be their role in the coming months and years? The Obama Administration has proposed an additional $100bn, in the hope that this will raise $5bn of new funding. The European Union has committed a similar amount (€75bn). This could be a mistake, unless the IMF is required to eliminate the harmful conditions that it often attaches to its lending ...
... this article comes up in WDEV 2/Mar-Apr 2009 and is for subscribers only. For direct log in >>> click here. If you have no subscription >>> pick your option or >>>
... buy the article here >>>
|
Add to memo. |
More on the subject:
>>> Coordinated and Massive Global Stimulus Required
>>> The New South
(C) 2006-11 - All rights reserved