The IMF needs the developing world now?

Jagdish Madan spots a growing trend in international financial markets-  funds from the developing world helping in the takeover of western financial institutions and corporates:

With very few developing countries approaching the International Monetary Fund (IMF) for loans and preferring easier alternatives, the IMF’s survival is at stake. It has, consequently become difficult for it to control the Third World through its financial muscle. It is a sign of changing times and equations that the IMF that had facilitated the rich West to dominate the world for the past half a century or more, is laying off employees to ensure its relevance in the financial world spac. [...]The developing countries, on the other hand, have amassed trillions of foreign exchange and are using the new found wealth to bail out the Western financial institutions hit by the sub prime market meltdown in the US. Recently, Citibank, the world’s biggest commercial bank, received $ 14.5 billion from investment funds in China and Kuwait. This over and above the $ 7.5 billion it got from Abu Dhabi Investment Authority. Merrill Lynch received $ 5.6 billion from Temasek of Singapore last year, and is now negotiating another $ 6.6 billion.

Linked by kuffir. Join Blogbharti facebook group.

0 Responses to “The IMF needs the developing world now?”


  1. No Comments

Leave a Reply

Enter the two words with a space in between




Hearing the voices

Did you know that 87% of all links that Blogbharti linked to in it's first year were new? Did you know that in the 2,376 posts we did, we provided you with 3,087 links individual links excluding self-links and links to technorati and del.icio.us? Read more here.

 

January 2009
M T W T F S S
« Dec    
 1234
567891011
12131415161718
19202122232425
262728293031  

Get Blogbharti Content

Important note: The site feed urls have changed. Please update your feed reader with these feed urls

Site Feed
Comments Feed

Contact us:

Email us at contact [at] blogbharti.com

Active Discussions

  • Soul (3)
  • Hilal Rajpori (2)
  • imtiyazmir50 (2)
  • Mumbai (2)
  • prof rishi dogra (2)
  • Saint (2)
  • sudipta (2)
  • vinod razdan (2)
  • abcd (1)
  • Ajaz Ahmed (1)
  • ajaz chiloo (1)
  • Aninda (1)
  • Anita Sangwan (1)
  • Anup (1)
  • ashutosh (1)
  • BASHIR (1)
  • charles darwin (1)
  • deep (1)
  • Deepak (1)
  • Deepak Dhawan (1)
  • dhiren (1)
  • Dr Rumisa Wafai (1)
  • dudoo (1)
  • harshit (1)
  • Jayalakshmi (1)
  • lauduchand (1)
  • Mahendra Lokhande (1)
  • Mahesh (1)
  • mashood (1)
  • Mohammed Nasir (1)
  • Mridula (1)
  • NIRAJ (1)
  • Pankaj (1)
  • Prakash Kumar Ghosh (1)
  • Pramit Singh (1)
  • Sanjeev sivadas (1)
  • sarath govind (1)
  • smruti saxena (1)
  • Sunil Bhat (1)
  • The Comic Project (1)
  • usha bhat (1)
  • Vijay Raman Bhan (1)
  • vinod nagpal (1)