Brazil's day of reckoning comes despite the bailout

Article Abstract:

The $41 billion rescue package agreed in Nov 1998 by the International Monetary Fund (IMF) for Brazil has merely served to encourage investors to withdraw their capital from Brazil. The rescue package, which was designed to assist Brazil with its repayments on international loans, meant in effect that the IMF would guarantee that commercial banks and other investors in Brazil received payment on old loans in order to continue making new ones. The scheme was rejected by some G7 countries, as was the decision to fix the Brazilian currency.

United States, Brazil, Foreign Economic & Financial Assistance, International Monetary Fund, Economic assistance, Foreign economic assistance

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Next recession will push Gordon Brown's commitment to the limit

Article Abstract:

UK Chancellor Gordon Brown will find it very difficult to address the challenges which will be posed by the next recession, given that he has made a commitment to a long-term improvement in the country's economic performance. He has promised full employment, for example, and this will be hard to reconcile with the redundancies which will inevitably take place during the next recession. It is unlikely that the government will have been able to complete its programme of reskilling the workforce by the next recession.

Job Programs NEC, United Kingdom, Employment, Column, Economic policy, Job creation, Brown, Gordon (British politician)

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Clamour to end the Third World debt gets louder

Article Abstract:

Aid campaigners and very poor countries believe that it is now time for the wealthy industrialized countries to consider being more generous with their plans for the cancellation of Third World debt. Commonwealth Secretary General Chief Emeka Anyaoku feels that the current highly indebted poor countries programme drawn up by the International Monetary Fund should be greatly improved. The Group of Seven countries have agreed this programme in principle, but there are a number of proposals for additional debt relief.

Developing Countries, International Monetary Fund, Foreign Loans-Repayments, Ethical aspects, External debt relief, Debt relief, Payment, Foreign loans

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