NewsWhore
11-24-2008, 05:40 PM
The secretary general of the Organization of American States (OAS), Jose Miguel Insulza is proposing the application of short-term measures to tackle the global crisis, including mechanisms to limit speculation in the futures market and in the weaker currencies of developing nations. Speaking yesterday, Insulza said he believed that this would require a voluntary policy in order to gain greater flexibility in the loans that international financial organizations will provide to emerging nations. He said, "I think that the International Monetary Fund (IMF) has certainly taken an important step by increasing the loan quotas, but I think that an additional effort has to be made to substantially increase the loans and reduce in some way the conditions placed on countries.
During his talk at the "Emerging Global Financial Order: A Regional Perspective" seminar held in La Romana over the weekend, Insulza reaffirmed that the international financial crisis is difficult and will affect the middle class sectors and the urban middle class, which will have to restrain their spending. The OAS secretary general clarified that the multilateral international organizations are not guilty of the problems facing the world, since they are not responsible for supervising individual country economies.
More... (http://www.dr1.com/index.html#2)
During his talk at the "Emerging Global Financial Order: A Regional Perspective" seminar held in La Romana over the weekend, Insulza reaffirmed that the international financial crisis is difficult and will affect the middle class sectors and the urban middle class, which will have to restrain their spending. The OAS secretary general clarified that the multilateral international organizations are not guilty of the problems facing the world, since they are not responsible for supervising individual country economies.
More... (http://www.dr1.com/index.html#2)