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To: Tom who wrote (2405)	10/8/1998 7:36:00 PM
From: Tom	Read Replies (1) \| Respond to of 2951

** OT More on #2405 and what's "been needling me"... (emphases mine) James Wolfensohn, the World Bank president, has emerged as the most vociferous advocate of moving beyond the confines of IMF economic adjustment programs and focusing more resources on socially oriented and pro-democracy policies. "Unless ordinary people, ordinary citizens, are brought along with financial solutions, you have no long-term solutions," he said in an interview. Mr. Wolfensohn's stance, along with his resistance to seeing World Bank money diverted for emergency cash rescues, has brought him into conflict with the IMF and the United States. The IMF managing director, Michel Camdessus, has meanwhile made a point of making repeated statements about the social consequences of the global crisis, but a number of officials here feel that the IMF is playing catch-up with political realities it had not previously foreseen in places like Indonesia. "If we do not have greater equity** and social justice, there will be no political stability, and without political stability no amount of money put together in financial packages will give us financial stability," Mr. Wolfensohn said in a speech here Tuesday. International Herald Tribune 10-08-98