IMF's bete noire

Last Updated: Saturday 04 July 2015 | 02:50:09 AM

AN alternative structural adjustment programme (asap), formulated by the Guyana-based Bretton Woods Reform Organisation (bwro), has managed to garner German support for itself. Backed by Germany's ministry of economic cooperation and development, asap is working on over 100 major policy recommendations for the development of people's priorities in every sector of Guyana's economy.

The bwro has identified flaws -- financial and economic inefficiency, technical unviability and hidden transfers and subsidies to the rich -- in the International Monetary Fund's (imf) programme in Guyana. Through asap, it targets these elements for elimination.

The imf's intervention has turned Guyana into one of the world's most indebted countries. The bwro, in collaboration with President Cheddi Jagan's government, has decided to appoint an international debt tribunal, the first of its kind to be established in context of the Third World debt crisis, for the country.(ips)

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