Was IMF reform a threat to the New Economic Policy [an affirmative-action program for Malays]?
Yes. When they start saying you must have no discrimination, you must do away with subsidies, you must not help anybody to come up, then all this work that we have done to give indigenous people a share will be undone. In fact, it is undone. Most of them have now collapsed. The IMF and currency traders have done all that. Am I supposed to be thankful? Others cannot say it because they borrow from the IMF. Their mouths are shut. They have no freedom. In practice, aren’t you doing what IMF- supported countries are doing? What the IMF asked us to do, to squeeze credit, that we don’t do. My deputy [Anwar] followed the IMF. He increased interest rates, and we went almost bankrupt. On top of that, he cut back on government expenditure by 21 percent. Since 80 percent of our expenditures are for operations, and 20 for development, that means there will be no development. But he does these things because he’s told this is the way to do it. Don’t your restructuring agencies mirror those in IMF c
Related Questions
- Our school will be choosing a Comprehensive School Reform Demonstration program. Does the National Network of Partnership Schools qualify as a comprehensive school reform model?
- Should CSR funds be used to support schools that are already implementing a comprehensive school reform program?
- How will health care reform affect my health reimbursement account program?
