The GOS lifted fuel subsidies and prices jumped.People rioted.Gas stations,cars,banks burned down.Live ammunition used against protesters,rioters and looters{separate entities btw}.
Apparently our esteemed government is following IMF and World Bank recommendations.Sketchy advice in the best of times but one wonders whether other recommendations such as good governance, combating corruption and sound fiscal planning,shifting spending from military to education and health care were embraced so readily.
From a macro-economic pov,the cuts make sense, but economics rarely takes into consideration human suffering and how these corrections adversely affect the most vulnerable strata of society.
To me the question is not whether these cuts are needed but why?
When the oil was flowing and life was good, huge funds were diverted towards militarization and private coffers.Chickens coming home to roost.
I{and most of this country} am wondering whether any change will result from these protests and where this country is heading.
Apparently our esteemed government is following IMF and World Bank recommendations.Sketchy advice in the best of times but one wonders whether other recommendations such as good governance, combating corruption and sound fiscal planning,shifting spending from military to education and health care were embraced so readily.
From a macro-economic pov,the cuts make sense, but economics rarely takes into consideration human suffering and how these corrections adversely affect the most vulnerable strata of society.
To me the question is not whether these cuts are needed but why?
When the oil was flowing and life was good, huge funds were diverted towards militarization and private coffers.Chickens coming home to roost.
I{and most of this country} am wondering whether any change will result from these protests and where this country is heading.
