Enough is Enough: Dear Mr. Camdessus ... Open Letter of Resignation to the Managing Director of the International Monetary Fund (Davison L. Budhoo)

Enough is Enough: Dear Mr. Camdessus ... Open Letter of Resignation to the Managing Director of the International Monetary Fund
Enough is Enough: Dear Mr. Camdessus ... Open Letter of Resignation to the Managing Director of the International Monetary Fund
Author	Davison L. Budhoo
Publisher	New Horizons Press
First published	1990; New York
Type	Book
Source	archive.org

Foreword by Errol K. McLeod

Note by the publisher

Author's preface

Memorandum of Transmittal of Open Letter of Resignation

Part I of Open Letter; Reason for This Letter and a Summary of Its Contents

1. The milieu

2. Six indictments against our operations in Trinidad and Tobago

3. A Bird's Eye View of Subsequent Parts of This Letter

4. A Final Observation Before I Proceed to Release Parts II-VI of This Letter

Part II of Open Letter; Our Statistical Misdeeds and Our Statistical Fraud in Trinidad and Tobago, 1985-1988

1. The Index of Relative Unit Labor Cost

2. Refusing to "own up" to the Trinidad and Tobago authorities or to the international community

3. Getting Your Prior Authorisation for Draconian Policies by Feeding You False Information in Mission Briefing Paper

4. How the Moonlight Took Over and Transformed Us Into Were-Wolves; Fund Financial Programming in Trinidad and Tobago in 1987

5. Dismissing the Governments Own Program; It Conflicts With a More Irresistible Cause

6. Statistical Monkey Business Once Again; the Real Effective Exchange Rate and the Terms of Trade

7. The Implications for Trinidad and Tobago of Our Statistical Trickery During 1985-88

8. Where Will It All End?

Attachment; Tables and Charts on Trinidad and Tobago's Real Exchange Rate and Relative Unit Labor Cost

Part III of open letter; non-statistical areas of wrongdoing in Trinidad and Tobago, 1985-88

1. Getting World Bank staff to join in the charade

2. Undermining fundamental rights protected by the constitution

3. Evenhandedness of the fund in dealings with member countries; A comparison between Trinidad and Tobago and Jamaica

4. Our executive board's definition of statistical fraud and its Ruling on punishment for culprits

5. Humankind's conscience to the rescue

Part IV of open letter; a history of the fund, or how we moved from Pax Atlantica to Pax Honeypot

1. The trinidad and tobago program restated; everything is ad absurdum

2. How did we get into the game of giving farcical advice to member countries?

3. Can we retrace our steps and start from scratch again?

4. The bigger picture

5. The founding fathers, the honeypot and the new nobility

6. A personal plea

Part V of Open Letter; Details of the Honeypot

1. My salary and benefits package as a fund staff member as of may 18, 1988

2. Sharing the staff bliss with selected non-staff entities; endless Honeypot spreads her wings

3. Other examples of honeypots lure

4. Reducing everything to a common denominator of greed and Personal ambition

Supplementary Letter of Transmittal of Part VI to Mr. Camdessus, Managing Director of the International Monetary Fund

Part VI of Open Letter; Reform of the Fund - Psychology, Epistemology, Organisation, Operations

1. Your perception of fund reform

2. Fund-supported programs and third world poverty

3. The fund as management system for international finance and world poverty

4. The fund and arms expenditure in developing countries

5. "Financing versus adjustment"

6. Further thoughts on the issue of development indices, measuring Development performance, and fund operations' impact on third World poverty

7. The little voice and the monster

8. Reform of the fund

9. Conclusion

Attachment; developing countries and the world bank; the need for reappraisal and reform

Letter of Transmittal of Part VII to Mr Camdessus, Managing Director of the International Monetary Fund

Part VII of Open Letter; The Fund and the Debt Crisis

1. The fund as agent of powerful shareholders to change third World political and economic systems under rigors of the debt crisis

2. Our mission to privatize the third world in preparation for limited Debt forgiveness

3. Elements of debt strategy, 1983-90

4. 'Conditioning' to create the new legal and institutional framework For a free-wheeling market economy

5. Phase II restated

6. Human destitution related to phase II

7. A new set of relationships for first world entities

Attachment; Macro-economic and sectorial policy measures under structural adjustment facilities concluded by the fund with third world countries, 1986-87