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Monday, July 09, 2007

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Raj Doctor

Is the World Bank governed by US? and IMF governed by EU? Yes. Money power counts and gives preferences. Similarly the allocation of resources too are priorities on issues that only matter and concern the benefit of US and EU, and not poor and developing countries.

This superior strong-hold needs to be broken - the earlier the better, if we all want to see real equality and equity in this world.

vishnu

maybe the UK is playing its usual diplomatic game of splitting the EU policy consensus and creating disharmony. If they had taken such a principled stance against IMF appointment why didnt they do so against World Bank's? Maybe UK's secret nomination was scuttled by EU....

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It is also odd that the IMF imposed harsh conditions on Latvia yet not Ukraine. Like many others I am starting to question why governments should boost IMF coffers for it to give money to countries like Ukraine to enable their citizens to retire early and have cheap subsidized gas. Money should only be donated to the IMF on the condition it is to be used for developing poorer countries only, or countries that follow and stick to there letter of settlement with the IMF.

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