International Monetary Fund (IMF) has been around more blocks than even the UN. She was kinda interesting because she liked to institute a holier than thou policy on her suitors and for this she was criticised. Just 60 per cent therefore agree that the IMF has had a positive effect on their country – better than fifty-fifty but not by much. In her defence, the IMF is in many cases the only dependable lender to the poorer nations and this is especially welcome now that we have a financial crisis whose origin has absolutely nothing to do with the third world. The IMF is these days low on funds, having received just 14 per cent of the additional $50 billion funds pledged at the G8 summit in Gleneagles 2005. The approx. $100 billion of annual aid to poor countries is dwarfed by the $500-800 of illicit flows from the south to the north, most of which is tax evasion by multi-national companies as claimed by the European Network on Debt and Development. So in conclusion, she’s in a pretty dire strait as are the countries which she serves. By leading a dogs life between too many masters she suffers from a lack of power to enforce and can’t hold the richer nations accountable for balking on their promises. Rich countries have shown that they are more than capable of mobilising vast sums of money when they have the will to do so: in a matter of weeks they managed to raise $3 trillion to bailout their banks – 30 times the amount of current global aid. Being IMF sucks!
fredag, mars 6
The ex-girlfriends part.2
International Monetary Fund (IMF) has been around more blocks than even the UN. She was kinda interesting because she liked to institute a holier than thou policy on her suitors and for this she was criticised. Just 60 per cent therefore agree that the IMF has had a positive effect on their country – better than fifty-fifty but not by much. In her defence, the IMF is in many cases the only dependable lender to the poorer nations and this is especially welcome now that we have a financial crisis whose origin has absolutely nothing to do with the third world. The IMF is these days low on funds, having received just 14 per cent of the additional $50 billion funds pledged at the G8 summit in Gleneagles 2005. The approx. $100 billion of annual aid to poor countries is dwarfed by the $500-800 of illicit flows from the south to the north, most of which is tax evasion by multi-national companies as claimed by the European Network on Debt and Development. So in conclusion, she’s in a pretty dire strait as are the countries which she serves. By leading a dogs life between too many masters she suffers from a lack of power to enforce and can’t hold the richer nations accountable for balking on their promises. Rich countries have shown that they are more than capable of mobilising vast sums of money when they have the will to do so: in a matter of weeks they managed to raise $3 trillion to bailout their banks – 30 times the amount of current global aid. Being IMF sucks!
Inga kommentarer:
Skicka en kommentar