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December 15, 2008
Offer a new social pact
The global financial crisis offers developing countries such as South Africa the opportunity not only to refashion their own economies, but to help create a new global financial system. But they will need a plan.
The coordination of macro-economic policy across countries is crucial. Developing countries must have a greater say at the International Monetary Fund, World Bank, United Nations and other global bodies. They must push for emergency aid for poorer countries that does not involve the IMF's inappropriate conditions. They must insist on more freedom to come up with their own economic policies.
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Posted by StaffWriter at December 15, 2008 12:02 PM