Don't make the poor pay for the mistakes of the greedy rich
from the economist:
"This credit crunch will be grim, but most emerging markets can avoid catastrophe. The biggest ones are in relatively good shape. The more vulnerable ones can (and should) be helped. In the short-term at least, the most vulnerable countries are all smaller ones."
"There will be pain as tighter credit forces adjustments. But sensible, speedy international assistance would make a big difference. Several emerging countries have asked America’s Federal Reserve for liquidity support; some hope that China will bail them out. A better route is surely the IMF, which has huge expertise and some $250 billion to lend. Sadly, borrowing from the fund carries a stigma. That needs to change. The IMF should develop quicker, more flexible financial instruments and minimise the conditions it attaches to loans. Over the past month deft policymaking saw off calamity in the rich world. Now it is time for something similar in the emerging world."
Why does borrowing from the IMF carry a stigma?
Jesus himself had stigmata...
If Jesus carries us (from 'Footprints'), then we can carry a stigma.
But if the stigma can be removed, then that, too.
Okay, I'm being weird.
Seriously, though, if money is needed, get it where you can, right?
2 days ago
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