Political successions are usually messy affairs, more so in the absence of stable institutions. This is what is happening with the Bani Saud. Infighting and bloodshed among clan members is a distinct possibility.
There are numerous international institutions with high-sounding names and even higher sounding principles. Led by the United Nations, others include the International Monetary Fund (IMF), World Bank, International Atomic Energy Agency (IAEA), etc...
The International Monetary Fund (IMF) has once again come to the rescue of Russia as it teeters on the edge of a precipice of financial meltdown. On July 22, the 24-member IMF executive board approved a US$11.2 billion rescue package to help Russia...
Barely a month ago, pundits from the International Monetary Fund (IMF) were proclaiming from every soapbox how Southeast Asian leaders had ignored their warnings about an economic meltdown before the house collapsed on them.
The currency turmoil in Southeast Asia is spreading. It started in Thailand but quickly engulfed neighbouring countries Indonesia and Malaysia as well.
As the fan club of the western economic system grows, so do the bailouts. In reality these are nothing short of economic takeovers as the concerned country surrenders its monetary policy to the donors or the international monetary fund (IMF).
People in Africa have good reason to be wary of the new, USS 25 billion initiative launched by the United Nations on March 15 to help the impoverished continent. Called the ‘System-wide Special Initiative on Africa,’ the programme will be phased over a 10 year-period.