"We must not deceive ourselves. There are no easy solutions, and none of us can escape our responsibilities."
So said Treasury Secretary James Baker last week as he announced an ambitious U.S. scheme to rescue the Third World's floundering debtor countries. His speech was the main event for 9,000 moneymen who gathered in the South Korean capital of Seoul for the annual meeting of the World Bank and the International Monetary Fund. The bankers and Finance Ministers welcomed his message as a breakthrough. For the first time the U.S. is willing to throw its weight behind an effort to solve the...
To continue reading:
or
Log-In
