Rich countries get help. It's the way of the world
Article Abstract:
The International Monetary Fund (IMF) has taken most of the 1990s to agree on debt relief worth less than $10 billion for some of the poorest countries in the world, to be given over several years. In contrast, it will make emergency funds of up to $100 billion available to South Korea over the very short term. It seems that the richest countries will readily give to countries that are relatively well off, as they do not wish to run the risk of being affected by the economic instability of those countries. In contrast, the poorest countries continue to face very heavy debt burdens.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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Why Asia should swallow the IMF's prescribed medicine
Article Abstract:
Many observers believe that the International Monetary Fund (IMF) has been misguided in imposing strict austerity measures on Asian countries as a condition for assisting them in overcoming the region's economic crisis. They believe that austerity measures can create recession, at least initially, and may also bring political conflict. In fact, there is little real evidence for this. In some cases, IMF-imposed austerity has actually led to economic growth. Furthermore, some economies may have weakened further if monetary and fiscal policies had not been imposed.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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