IMF Reports that:
The world is going through the most dangerous financial crisis since the 1930s.
Coordinated global action is starting to reverse the tide of the financial crisis, but governments also need to “deploy all instruments” to limit damage to the real economy, IMF Managing Director Dominique Strauss-Kahn told world financial leaders meeting in Washington.
IMF Managing Director Dominique Strauss-Kahn also said that developing countries, “face reduced export demand and reduced access to trade credit.”
Read more here
The Maldives with the highest per capita income in the region, and highly vulnerable by the impact on its “export demand” through tourism and fisheries, and almost negligible trade credit, does not seem to be able to take note of the approaching “tsunami” – if you will.
What are we doing about it? How do we bring this to the attention of the nation’s leaders, who just appointed a Governor to the MMA who does not have any fiscal or monetary policy experience?