ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Flutter in the Dovecotes

Flutter in the Dovecotes THE simmering discontent that the Japanese have been nursing for many years now with what has come to be termed the Washington Consensus appears to have come to a boil. While Japan has itself played by the rules of the game as defined by the Bretton Woods institutions, it has endeavoured to bring up contentious issues in Fund-Bank fora especially on the need to use a more discriminating approach to prescribing macro-economic reforms in developing countries, taking into account their different development histories. While these efforts by the Japanese may not immediately result in a change of perspective on the part of the IMF-World Bank, it should act as a prompt for third world country governments to take a second look at their own sledgehammer approach to implementing economic reforms.

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