Strong Leadership, Collective Action Key to Economic Recovery

By iMFdirect

The 2011 IMF-World Bank Annual Meetings are taking place in Washington DC as the global economy enters a dangerous new phase — financial markets jitters and risks to the recovery are giving everyone plenty to talk about.  Here are our ‘must reads’ for the meetings.

4 Responses

  1. I really sympathise with average citizens of developing countries in these very difficult economic times. This is because unlike their counterparts in the developed countries, they are not cushioned against the effects of their dwindling economic situations. It is well known that any protectionist policies adopted by developed economies have a devastating effect on developing countries. The third world, out of desperation, turns to the same developed world for ‘sustainable solutions’ to their seemingly endless economic woes. What irony! I could go into greater detail but don’t want to sound like an old broken record. As we all know, the playing field is always unequal, tilted in favour of rich nations. The person that ultimately bears the burden in this vicious cycle of economic dependency is the common citizen of the developing world, for he has no one to fight for him.

  2. In the European Union there are 27 countries with 27 central banks, plus the ECB; 27 heads of states and 27 ministers of finance.
    In the euro zone there are 17 countries using a single currency– the euro, while the others have their own currencies– including the U.K.
    Their monetary policies — those in the euro zone can’t adjust currency values while others can.
    Most of the countries have broken the EU barrier w/r to debt/deficit limits.
    Under the circumstances my question is: “WHO IS IN CHARGE OF THE CHATTERING TRAIN?”

  3. Dear Madame Director and Fellows,
    thank you for this opportunity.
    My synthetic vision is the following:
    The ongoing financial crisis in Europe and developed economies is mainly due to:
    1) The shadow economy in each country whose size is as big as the same country economy or bigger and “out of control”. This should be put under control.
    2) G-7 countries have “de facto” strongly helped China to develop. Now is the time them to return and to regulate: either they float their currencies or we have to protect our products, companies and families against this irregular competition, risks of hunger, financial difficulties and revolution. This is occurring whilst those who should be prepared to look after the country enjoy incredible earnings for jobs never done and without having the necessary competence; and with population being compelled to do anything to survive.
    3) Today’s finance instruments too often allow resource misappropriation from those who produce them to those who want and take them, without any protection. Public debt trading, today, looks likely to be the most recent instrument. This has to be regulated too and politicians must take the side of the population, especially in this very difficult moment.
    4) Finally, I do not find it “just” to sell our countries out.
    5) I live in Brazil, and although the security risk is huge, top-level politicians (eg. Mrs Dilma, Mr. Lula) are very smart and are doing very good internal and international policy. We should follow their attitude and competence.

  4. […] ** Strong Leadership, Collective Action Key to Economic Recovery – iMFdirect […]

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