In IMF and World Bank we trust

By Samad Ramoly

Does it necessarily take the rapid cognition of Lee Kuan Yew, the maverick behind Singapore’s aura, to dismiss the consultancy of the World Bank because it “presents its findings in a bland and universalizable way that does not grapple with the real problems”? Countries choose to kowtow to their sloppy doctrine at their own risk and peril. According to Joseph Stiglitz, a recipient of the Nobel Memorial Prize in Economic Sciences who has taught at Oxford University, MIT, Stanford University, Yale University and Princeton University, “the IMF frequently consists of third-rank students from first-rate universities and has almost never succeeded in recruiting any of the best students”. Their like-minded buddies must be scrutinized too, the more so when they play a key role in the decision-making process.

The former Finance minister deserved a headline-grabbing accolade for experimenting a new genre where Kafka meets Don Quixote when he rapturously announced that the IMF and the World Bank would help us in the setting up of a “centre of excellence” for the training of our executives! Now the ticket for the intimidating rollercoaster ride is being forced out of our pockets.

An Appeal

Dear Reader

65 years ago Mauritius Times was founded with a resolve to fight for justice and fairness and the advancement of the public good. It has never deviated from this principle no matter how daunting the challenges and how costly the price it has had to pay at different times of our history.

With print journalism struggling to keep afloat due to falling advertising revenues and the wide availability of free sources of information, it is crucially important for the Mauritius Times to survive and prosper. We can only continue doing it with the support of our readers.

The best way you can support our efforts is to take a subscription or by making a recurring donation through a Standing Order to our non-profit Foundation.
Thank you.

Add a Comment

Your email address will not be published. Required fields are marked *