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Don't wait up

Article Abstract:

The World Bank and International Monetary Fund (IMF) are to hold their annual meetings in Oct 1998, and a number of plans have been suggested to tackle the Asian financial crisis and other issues. These plans are mostly unworkable and lack detail. There do not appear to be solutions to overcoming the crisis and preventing further crises, and a number of factors have been blamed for causing the problems, including the IMF's own policies. There is also the problematic issue of additional funding for the IMF, and the problem of moral hazard when rescues areundertaken.

International Affairs, Finance, taxation, & monetary policy, Intnl Monetary Fund, Financial markets, International financial institutions

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Sick patients, warring doctors

Article Abstract:

There are disagreements between some officials of the World Bank and International Monetary Fund (IMF) over how poorer and transitional countries should be helped. World Bank chief economist, Joseph Stiglitz, argues that privatization has been encouraged too rapidly, and without setting up an appropriate regulatory framework. He sees neglect of institution-building as a key problem. Critics deny his charges, though some countries, such as Estonia, which ignored IMF advice have been successful in the transition from a command economy.

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New Guinea-pig

Article Abstract:

The World Bank's new experimental methods for accounting the gross national product by adjusting for loss of natural resources has not been successful in Papua New Guinea. Economists disagree on how to calculate capital gained from the sale of natural resources.

Accounting and auditing, Natural resources, Gross national product, Papua New Guinea

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