furture role of IMF:your opinion is important

[adagio]

Hi everybody
It is obvious that here many students do Finace or Economy, and any well educated student also has own opinions about the World economic Arena!!!
After many Financial Crisises like in Argentine, Brasil, Mexico, Malaysia, Thailand,Russia, Japan FMI has suggested many solutions
But still there are pros and Cons about the conditons,about the role that IMF plays
What do you think what kind of role should IMF play?
Just who lends money?How
Just who gives NOT imperative suggestions?how
Just who gives imperative rules? how?
How, Why
or ........
Your opinion, any arguments are more than welcome!

[4twelve]

Hi everybody
It is obvious that here many students do Finace or Economy, and any well educated student also has own opinions about the World economic Arena!!!
After many Financial Crisises like in Argentine, Brasil, Mexico, Malaysia, Thailand,Russia, Japan FMI has suggested many solutions
But still there are pros and Cons about the conditons,about the role that IMF plays
What do you think what kind of role should IMF play?
Just who lends money?How
Just who gives NOT imperative suggestions?how
Just who gives imperative rules? how?
How, Why
or ........
Your opinion, any arguments are more than welcome!My opinion is IMF short cut of the Internatioal Mother F.....rs.....

Am i wrong?

When you check the near history all countries settle their economic problems when they kick IMF ass ( MALAYSIA ) otherwise still slave of the IMF ( Turkey )...But other hand money is the power , power is the money so IMF wanna buy souls and courage of the countries and giving money as a Credit ( as a credit with f.....g interest rate )..That is it..

[chicagoan]

My opinion is IMF short cut of the Internatioal Mother F.....rs.....

Am i wrong?

When you check the near history all countries settle their economic problems when they kick IMF ass ( MALAYSIA ) otherwise still slave of the IMF ( Turkey )...But other hand money is the power , power is the money so IMF wanna buy souls and courage of the countries and giving money as a Credit ( as a credit with f.....g interest rate )..That is it..Gapni indallosi shu yerda ekan.

IMF has to be dissolved. Developing countries should default on IMF loans collectively - IMF already made too much money on their blood and sweat.

And guess what - most of that money goes into rich countries, more precisely top 1% of those rich countries.

talk about justice.

mr

[4twelve]

Gapni indallosi shu yerda ekan.

IMF has to be dissolved. Developing countries should default on IMF loans collectively - IMF already made too much money on their blood and sweat.

And guess what - most of that money goes into rich countries, more precisely top 1% of those rich countries.

talk about justice.

mr

Thanks for support....;)

[n0xyl]

IMF politicized organization and promotes USA's interests.

[adagio]

thanks for ur replies
but could u plz suggest any other strategy? or any other type of function?
partiallly i agree with u, but critisizing is the first and easiest part
but the suggestion is more difficult
just resolution of IMF won't be a solution?
if yes, then which organization would be the Last resort?
what kind of changes in rules do you suggest?
thanks again

[Delf]

Major role of IMF is to lend money. You can try to twist it the way you want, but in the end it is the $$$ going to developing country's government in form of a loan. It is no doubt that a corrupt government (and in many developing countries governments are corrupt) will definitely misuse it. In case the money is used the way IMF says, the consequences are still unclear, but there are indications that they are no good in many cases.

In my opinion, lending money should be:
1. Interest-free.
2. Only under condition that a given government is not corrupt (Transparency International is a good tool to look at).
3. IMF should bear full responsibility for consequences of its advice and policies (country has a right to default on the loan if the loan and policies has lead to worsening the situation, all the agreed policies and advices being performed)
4. Freedom and human rights should be a pre-requisite for eligibility for loan (OCSE way of lending money).

These principles should be enforced in order to make lending effective.

As for my opinion on whether IMF role is positive or not, I think that IMF promotes right-wing capitalism and this is not very good for impoverished nations, since they lack capital to be able to improve their situation. The nation usually ends up as a sweatshop country to provide cheap labor for US corporations or/and its corrupt government is used to extract country’s mineral resources while general population lives in poverty.

General solution for third-world and developing countries is promoting political reforms in order to democratize the nation, introducing strong and independent parliaments and judicial systems along with freedom of press (Canada, for example is a good example of democracy, US on federal level is currently kinda screwed up because of electoral college and corporations, while local governance is still good enough).

As for left or right-wing economics, I guess it's up to the people to choose their way of regulating economy. They might want right-wing (USA for ex.) or left-wing (Sweden for ex.)

My opinion on economic theories is pretty much close to Bakunin's, Chomsky's and Gandie's. Personally, I am inclined to think that capitalism is good to some extend, while some forms of socialism are better. Well, this is a whole another story and I might have a chance to speak about it in other posts.

Sincerely,
Delf.

P.S. in 20 years world will be a lot more different than today, for a very possible scenario, take a look at Marshall Brain's Robotic Nation (http://marshallbrain.com/robotic-nation.htm) and Manna (http://marshallbrain.com/manna1.htm).

[chicagoan]

thanks for ur replies
but could u plz suggest any other strategy? or any other type of function?
partiallly i agree with u, but critisizing is the first and easiest part
but the suggestion is more difficult
just resolution of IMF won't be a solution?
if yes, then which organization would be the Last resort?
what kind of changes in rules do you suggest?
thanks again
As a rebel economist, I think IMF has to be dissolved, and there is no need for a new body.

For instance, if Uzbekistan has no hard currency to buy grain - it could ask loan directly from Japan, and so forth...or we could go into barter with Ukraine.
what is the big deal?
Just like brother borrowing from brother. All nations of the world are brothers to each other.

The bottom line of establishing IMF was to channel all the benefits of Riba to specific countries that stay behind.

So, even now our gov'nt can ignore IMF and talk to others directly.

allohu a'lam.

mr

[chicagoan]

Major role of IMF is to lend money. You can try to twist it the way you want, but in the end it is the $$$ going to developing country's government in form of a loan. It is no doubt that a corrupt government (and in many developing countries governments are corrupt) will definitely misuse it. In case the money is used the way IMF says, the consequences are still unclear, but there are indications that they are no good in many cases.

In my opinion, lending money should be:
1. Interest-free.
2. Only under condition that a given government is not corrupt (Transparency International is a good tool to look at).
3. IMF should bear full responsibility for consequences of its advice and policies (country has a right to default on the loan if the loan and policies has lead to worsening the situation, all the agreed policies and advices being performed)
4. Freedom and human rights should be a pre-requisite for eligibility for loan (OCSE way of lending money).

These principles should be enforced in order to make lending effective.

As for my opinion on whether IMF role is positive or not, I think that IMF promotes right-wing capitalism and this is not very good for impoverished nations, since they lack capital to be able to improve their situation. The nation usually ends up as a sweatshop country to provide cheap labor for US corporations or/and its corrupt government is used to extract country’s mineral resources while general population lives in poverty.

General solution for third-world and developing countries is promoting political reforms in order to democratize the nation, introducing strong and independent parliaments and judicial systems along with freedom of press (Canada, for example is a good example of democracy, US on federal level is currently kinda screwed up because of electoral college and corporations, while local governance is still good enough).

As for left or right-wing economics, I guess it's up to the people to choose their way of regulating economy. They might want right-wing (USA for ex.) or left-wing (Sweden for ex.)

My opinion on economic theories is pretty much close to Bakunin's, Chomsky's and Gandie's. Personally, I am inclined to think that capitalism is good to some extend, while some forms of socialism are better. Well, this is a whole another story and I might have a chance to speak about it in other posts.

Sincerely,
Delf.

P.S. in 20 years world will be a lot more different than today, for a very possible scenario, take a look at Marshall Brain's Robotic Nation (http://marshallbrain.com/robotic-nation.htm) and Manna (http://marshallbrain.com/manna1.htm).
did not u copy and paste your post from some site or textbook?

just seems too standard and boring.

mr

[Delf]

did not u copy and paste your post from some site or textbook?

No, I didn't. Just some of my own Delfish© thoughts :cool: .
Well, the subject is IMF and its policies, don't expect posts to be as interesting as in MND (http://www.forum.uz/showthread.php?t=18615) :D

Delf.