W O R L D | Sunday, October 4, 1998 |
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World Bank, IMF rift comes to fore WASHINGTON, Oct 3 A feud between top economists at the World Bank and International Monetary Fund boiled over this week exposing a rift between sister institutions on policy advice to Asias crisis-hit economies. House
reveals more of Monicas tale |
NEW YORK: Indian Information and Broadcasting Minister Sushma Swaraj speaking at a gathering in connection with Mahatma Gandhi's birth anniversary in New York on Friday. PTI |
Turkish
jets pound Kurd hideouts Taslima
appeals to Pen for help |
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World Bank, IMF rift comes to fore WASHINGTON, Oct 3 (Reuters, AP) A feud between top economists at the World Bank (WB) and International Monetary Fund (IMF) boiled over this week exposing a rift between sister institutions on policy advice to Asias crisis-hit economies. The IMF Chief Economist, Mr Michael Mussa, launched the first salvo on Wednesday, when asked if the fund made policy mistakes in Indonesia, South Korea and Thailand. I think those who argue that monetary policy should have been eased rather than tightened in those economies are smoking something that is not entirely legal, Mr Mussa told a news conference, without mentioning any names. When asked yesterday about Mr Mussas remarks, the World Bank Chief Economist Mr Jospeh Stiglitz, shot back. I wasnt even smoking, Mr Stiglitz told newsmen. He hasnt looked at the econometric evidence and statistical evidence on this...we go through both the theory and the evidence on the issue and youll see that Mr Mussas wrong. The IMF has taken some heat from Mr Stiglitz and other economists over the past year for its policies in Asia. The IMF initially urged the one-time Tiger economies hit by the crisis to raise interest rates and run budget surpluses. But the IMF has eased those demands in recent months, clearing the way for more social spending for the poor. The rift between sister institutions became obvious in January, when Mr Stiglitz told the Wall Street Journal: One ought to focus... on things that caused the crisis, not on things that make it more difficult to deal with. In March, Mr Stiglitz said
the IMF had overstepped the bounds by
insisting in its reform programme for South Korea that
the nations Central Bank focus exclusively on price
stability. |
House reveals more of Monicas tale WASHINGTON, Oct 3 (Reuters) Monica Lewinsky said she feared for her life as her clandestine affair with President Bill Clinton was drawing to a close, but could not get him out of my heart, according to transcripts of her taped conversations released by the House of Representatives. The transcripts, among thousands of pages of evidence in the likely impeachment inquiry of Clinton by the House, showed the raw side of an affair going bad and how people around the President were swept into the scandal. For fear of my life, I would not cross these, these people, for fear of my life, number one, she said. But number two, I... some people would see it differently... I look at that woman (Jones) with such loathe and disgust. Lewinsky was referring to Paula Jones, whose lawsuit started Clintons current trouble. On the tapes, made by Linda Tripp, Lewinsky also called the President a creep, said she got a job at Revlon with the help of Clinton friend Vernon Jordan and defined sexual relations in the same way the President did. I hope the creep and I can still have some contact. I know that sounds ridiculous, but I cant get him out of my heart, Lewinsky said more than two months before the scandal became public. CLEVELAND (AP): Mr Clinton told Democratic campaign donors to set aside fears that the Lewinsky controversy would hurt their party at the polls next month. Referring to his personal trouble as this adversity, he said yesterday that it would not endanger democratic candidates and might even bring out more supporters interested in big issues such as saving the social security system and strengthening education. In this election, all this adversity is not our enemy, he said at a luncheon that raised at least $ 100,000 for Democrat Mary Boyle in her uphill race against Republican Governor George Voinovich for the Senate seat being vacated by retiring Democrat John Glenn. The adversity is our friend, Mr Clinton said after stopping to greet people on a street in the West Park section of Cleveland. They might vote now, he said, because they are getting the message that there are big issues at stake. As a lead-in to those comments, Mr Clinton alluded obliquely to the Lewinsky affair. We all have to live with the consequences of our mistakes in life, Mr Clinton said. He added with a rueful chuckle, most of us dont have to live with it in quite such a public way. But nobody gets out of this life for free, nobody does. Later, at a fund-raising dinner in Philadelphia, Mr Clinton acknowledged that his presence had attracted protests from people who turned out in both Cleveland and Philadelphia to condemn him as a liar and a cheat. He said he was heartened to see that most people cheered and urged him to persevere. I was so moved today by all the things that were said to me on the streets, he said. I didnt even mind the protestors, thats the American way. You like it even more when theyre not in the majority. He encountered some harsh rebukes. Liar, loser, jerk, read one sign held by a man on a suburban lawn. Resign in 99, read another. There also were supportive
signs and cheers from onlookers along the way. He who is
without sin cast the first stone. You are
forgiven, one said. |
Islamisation Bill ISLAMABAD, Oct 3 (PTI) Prime Minister Nawaz Sharifs efforts to build up consensus over his controversial Islamisation Bill suffered a setback when the veteran Pathan leader, Khan Abdul Wali Khan of the Awami National Party (ANP) refused to discuss the Bill with him. Sharif had to cancel his proposed trip to Charsada, home of Wali Khan in Frontier Province, at the eleventh hour yesterday when the ANP leader refused to meet him to discuss the 15th constitutional amendment. Wali Khans wife and chief of the provincial unit of the ANP, Begum Nasim Wali Khan, while confirming that they had been informed about the proposed visit said they had refused to meet Sharif. Obviously, we were approached and a helipad was being prepared at Wali Bagh. But we said that there will be no meeting, Begum Nasim Wali Khan was quoted as saying by the News today. She further said there was no meeting on the card and wondered, what purpose would a Wali-Nawaz meeting serve when the PML leadership had directed all its guns and crossed all limits of moral decency in bashing the ANP leaders. Media reports said that almost all arrangements had been made for the Prime Ministers proposed visit to the area as all the intelligence and security agencies had been alerted. But the local press corps including a crew of Pakistan TV, had to return disappointed after a nearly five hours wait at the helipad for Sharifs arrival. Ajmal Khattak, the national president of the ANP said in Islamabad yesterday, we have commitment with the nationalist parties not to negotiate with the government. That is why we refused to entertain him (the Prime Minister) when he contacted us. Khattak was speaking at a nationalist conference where he along with other ethnic parties were chalking out strategies to counter the dominance of Punjab province in Pakistan. This was the second failed attempt in as many days by Sharif to win support for his Islamisation Bill which has run into rough weather both inside and outside parliament since its announcement on August 28. On Thursday, Sharif had flown to Baluchistan capital, Quetta, and met the Baloch leader, Nawab Akbar Bugti of Jamhoori Watan Party (JWP) for support on the Bill. Akbar Bugti had also
refused to support the 15th amendment thus making Sharif
return empty handed from Quetta which prompted him to
head towards Frontier Province to win the support of
Pathans, media reports said. |
Turkish jets pound Kurd hideouts ANKARA, Oct 3 (DPA) Some 10,000 Turkish troops crossed into northern Iraq early yesterday for an operation against armed Kurdish rebels fighting the Ankara Government, the daily Hurriyet newspaper reported today. In a parallel development, Turkish troops were preparing to carry out a military exercise along the Syrian border amid mounting tension with Damascus, Turkish Prime Minister Mesut Yimaz was quoted by the daily Milliyet newspaper. The Hurriyet report said that Turkish jets had carried out air raids on Zakho, Zeli, Hrlsinahd in the Kurdish enclave where fighters of the banned Kurdish Workers Party (PKK) were believed to be hiding. The Kurdish rebels had suffered heavy losses under Turkish artillery fire, according to Hurriyet. Turkish soldiers were reported to have been stationed in areas close to the Syrian and Iranian borders to prevent PKK fighters from fleeing to these two countries. The report said that the
operation would continue till all rebels had been
cleansed from the region. |
Taslima appeals to Pen for help DHAKA, Oct 3 (PTI) Feminist writer Taslima Nasreen, facing death threats, has appealed to the international literary organisation Pen to press Dhaka for her safety, family sources confirmed today. Yes, she has made such an appeal to ensure her safety in view of the continuous threats, Taslimas father Dr Rajab Ali told PTI here today. Dr Ali said his daughter
appealed to the London office of the international
organisation of Pen (poets, essayists and
novelists) which, he said, assured her to write to
the Bangladesh Government. |
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