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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 455.37

+3.1%

Feb 6 4:00 PM EST

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From: elmatador	11/2/2007 10:43:33 PM
	of 220082

IMF must cut jobs. Should implement a cost-saving programme, according to a report. Oh, what do we see here? no more interest from Brazil's debt? Looks like now they have to look to do something usefull to earn a living. Isn't that a nice outcome of globalization? "The fund also has to cut costs and reduce the size of its staff. It lost about $100 million in the fiscal year ended April 30 and its lending portfolio has dwindled to $17 billion (€11.7 billion) from $97 billion (€67 billion) at the end of 2004. Interest from these loans finance the IMF." "IMF's 2,700-strong workforce is too large and that IMF economists are failing to tailor proposals to specific countries, according to a report in Financial Times Deutschland, citing G7 sources." Yes, they should employ the same reforms they impose on the debtors' countries. Cut deep and painfully is the solution. Let's yield the big knife com gusto! "The Fund, which has 2,691 employees, spends nearly a billion dollars a year on operations." Lots of room for fat to be cut!

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