Word: imf
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...quite clearly in favor of cooperation with the Tribunal - one of his reasons being that Yugoslavia desperately needs foreign aid and investment, and most importantly, rescheduling of its debt. And the U.S. government had made clear that it would vote against aid to Belgrade in the IMF and World Bank, and would block rescheduling of the debt, if the Yugoslav government refused to cooperate...
...calculations - and, indeed, many of its own citizens are questioning why the government plans to spend $5 billion on submarines, helicopters and fighter planes when the primary threat to the nation's security is AIDS. But South Africa continues to earn high praise from the International Monetary Fund (IMF) and the Western financial community for its fiscal discipline. It has earned that positive image among investors in part through slashing its budget deficit by more than two thirds over the past six years - and pouring billions of dollars into the public health system is not exactly fiscally disciplined behavior. Today...
...FTAA would so compromise the ability of nation-states to maintain democratic control over basic regulatory powers, why are 34 of the nations in North and South America participating in the FTAA negotiations? First, most smaller nations, saddled with debt to the World Bank, IMF and northern investors, don’t have much of an option: with poorly capitalized markets, opting out of a trade agreement offered by the North would most likely precipitate a sudden fall in “investor confidence” among foreign investors, a corresponding crash in currency value and a decline in economic...
...week-long mutiny over army reform. Thousands of soldiers and students held demonstrations in the capital, Port Moresby, after Prime Minister Mekere Morautu initially refused to meet with the rebels. They were protesting plans to halve the size of the army as part of economic reforms backed by the imf and the World Bank. After a meeting between their leaders and Morautu, the soldiers agreed to hand back weapons they had seized but demanded that the government expel Australian and other foreign advisers and recall parliament...
...Turkey-which had been getting on with an $11.4 billion IMF-backed program-economic reform means not just taking unpopular austerity measures but also transforming the entire state sector, removing it as a place of plunder and patronage by the political establishment. Turkey's state-owned banks serve the political machine, writing off debts as political favors. As a result, accumulated losses are staggering. For the two largest banks, the figure comes to $20 billion...