Uzbekistan rapped by IMF

[t_rex]

The International Monetary Fund has announced that it is withdrawing its representative in Uzbekistan after criticising the government for the slow pace of economic reforms.

The IMF said that its current representative Christoph B.

Rosenberg will not be replaced when he leaves next month.

The IMF had long demanded that Uzbekistan -- in return for financial assistance -- should end subsidies, stamp out corruption and allow its currency to float.

The BBC Eurasia reporter says the IMF has signalled it can no longer do business with the government.

Uzbekistan becomes the third former Soviet republic, after Belarus and Turkmenistan, to have its IMF representative withdrawn.

Cooperation is expected to continue at a lower level.

http://news.bbc.co.uk/hi/english/world/asia-pacific/newsid_1246000/1246538.stm


have fun

[admiral]

That's pretty sad ...
So how would this affect Uzb's debt to IMF? speaking in terms of all those credits, fin. aid received from "supreme money pool?"
Would their maturity period be cut back?
Also, hate to c my country in the same line w/ Turkmenistan and Belarus. :(((
boo :(

[Pakhtakor]

It is sad. Our government was planning to introduce full convertibility last year but due to significant decreases in world prices for our main export commodities and also due to draught that reduced the nation's agricultural out badly affected our export earnings. Now we have very low hard currency reserves and introduction of full convertibility will sharply increase exchange rate, and import prices will sharply go up as well as prices for domestically produced goods. Our government's decision not to introduce convertibility was wise at this moment but we have to introduce it as soon as it possible anyway. At this point government should select priority sectors and support them by converting earnings of foreign investors into hard currency. For example we don't have to build tractor plants like UzCasemash by spending hundreds of million dollars instead we can buy Russian and Belorussian made tractor at much lower prices and their maintanance costs are much lower than Case's tractors; Case's tractors average maintanance cost is $6-8 thousand, and those who are using them complaining about their abilities. For example, Belorus tractor outpowers Case's much bigger tractors in digging farmlands. Also government should widely support export oriented industrialization like Turkey did.

[Russian]

Well, I guess that Casemach is a product of our corruption. It is obvious that we should use former USSR-produced racktors, why we shold build Cases that cost more? But Uzbek authorities always tend to look smarter then they are in reality. Instead of trying to learn, they are trying to earn. And unfortunately, only for their own pocket.

I feel sorry for the coutry...

[Uzbek]

this really sad:(

[Soloh]

Quote from friend's research:

both the IMF and the World Bank are instruments of western powers in appropriating the international economic-financial system for their benefits and as the result of their activities Third World economies become increasingly dependant on the West.

However, the real dynamics of the international economic-financial system reveal that aid is provided mostly as an instrument to preserve the existing economic advantages of the West and to impose further dependency on the developing countries. Development aid fails to alleviate poverty in the Third World, even in the immediate context in which it is provided, let alone to draw abreast. Capital flaws transferred to the Third World as an aid do not reach the poorest part of the population. Indeed, they are in most cases either used to service the old loans or appropriated by local elite by means of corruption. Development aid is also used in political purposes by western powers to promote their own strategic interests

YOUR OPINION:

[sanatullo]

Soloh,

I agree with most of these ideas. Good research!:) I may even give a couple of examples. But not this time. :)

[Chitatel]

Proklyatie imperalisti!!! (Vsegda legche obvinit kogo-to drugo v svoih neudachah) Nu zato mi teper smojem dokazat chto mojno projit i bez etih krovopits. V kontse-kontsov govoryat daje u Sudan'a vremenami nablyudayetsya ekonomicheskiy rost.

Cheers

[Freestyler@]

Nu i chti je vi predlogayete vzamen, gospoda -tovarishi?

Chto-to ne vidno plodov nashey unikal'noy, "nacional'noy" politki! S kajdim dnyom tol'ko nishayem, a gosudarstvo prodoljayet nam mozgi pudrit'.

Vo-pervih, takaya kritika v adres IMF i WB daleko ne nova.
Odnako naskol'ko ona opravdana - eto yesho bol'shoy vopros.

Yest' ved' vsyo taki strani, gde proyekti IMF dali svoi znachitel'niye plodi. Vo'zmite Pol'shu, Sloveniyu, Chekhiyu, strani NIS pervoy i vtoroy volni, Vengriyu, ili yesho blije - Kazakhstan.
I voobshe kak benchmark, sovetuyu vam ispol'zovat' Kazakhstan. Mi s nimi iznachal'no bili v ochen' shojih situaciyah. Odnako oni nas uje davno operedili v plane investiciy, vnedreniya rinochnoy ekonomiki i dohoda na dushu naselelniya.
Pora bi uje perestat' bit' takimi cinichnimi i nachat' prislushivat'sya k professionalam iz IMF i WB, kotoriye v rinochnih delah razbirayutsya namnogo luchshe chem nashi planoviki-socialisti.

Keep it sober, quys.

Ne nado potakat' gosudarstvu za to, chto ono za vas platit. V konce koncov ono obyazanno platit', potomu chto ono obyazano narodu, kotoriy platit nalogi v nadejde na hot' kakiye to izmeneniya. Odnako so-far, progressa ne nablyudayetsya, skoreye nablyudayetsya obratnoye.

[sm1]

I'd like to add that IMF membership is not compulsory and if Thrid World countries perceived that they are being abused they would quit IMF loooooooooooong time ago. They did not though.
it is also important to mention that the benifit of IMF is very experienced team of independent i.e impartial (very importnat in our case) economists that do not afraid to to criticize what governments are doing. it is very sad that they are leaving,