Marshall Plan for Balkans?

Doug Henwood dhenwood at panix.com
Wed Apr 14 09:21:39 PDT 1999


Chris Burford wrote:


>I actually think that Special Drawing Rights should be printed for the
>Africa, but that suggestion was also met by a received left wing common
>sense and worldy wisdom as quite impractical.

Chris, for one you show a touching faith in the healing powers of funny money, e.g. SDRs. Africa desperately needs real human, financial, and physical resources, not a fresh issue of a notional currency. And for two, it's not "received left wing common sense" that deems any IMF indulgence towards Africa as "impractical." It's study of the IMF's 50-year history - and that of its masters at the U.S. Treasury* - that makes it seem about as likely as l'Osservatore Romano running a front-page editorial admitting the Virgin Birth is a hoax.

Doug

---- *"The IMF is a toy of the United States to pursue its economic policy offshore." - MIT economist Rudi Dornbusch



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