Geopolitical instability has accelerated rapidly with what most economist have described as a 'seismic' GFC, arguably bringing an end to free-market capitalism, globalization and deregulation with the role of the State, together with financial and trade protectionism, ascending.
With World Bank financing reaching a record US$58,800,000,000 ($58.8b) FY2009 as a result of the GFC and with Fiji's application for assistance to be considered in the new fiscal year, I wish to express my thoughts on same, in light of current events surrounding the 'freezing' by the World Bank on Wednesday of its economic assistance to Honduras of around US$270,000,000 ($270m) of the $400m undisbursed, following the coup that ousted President Manuel Zelaya.
If the World Bank is to be 'consistent' in its 'criterion' for funding poor nations (or whatever classification tickles your fancy) such as Frank Bainimarama's Banana Republic of Fiji, then I am optimistic about the restoration of our 1997 Constitution and immediate return to democratic elections, the rule of law and guarantee of our human rights enshrined therein before 2012.
There is NO ROOM for DEAD AID in Fiji ANYMORE, especially now that we have a military buffoon running the show. Frank Bainimarama has successfully demonstrated these past few years a desire to hold on to power indefinitely like Ethiopia's Meles Zanawi. Over the past 50 years more than U.S.$1,000,000,000,000 ($1 trillion) dollars in foreign assistance given to Africa has been described by economist Dambisa Moyo, as the "root cause" of that continent’s enduring poverty, widespread corruption, civil wars, and isolation from the global economy.
I am sure that the M.D of the World Bank Ngozi Okonjo-Iweala would be fully aware of the impact that funding a military dictatorship has on the lives of ordinary people in a poor country like Fiji. The IMF and World Bank via the IBRD need to make a coordinated response to Frank Bainimarama's bogus 'road map' and reflect ONE UNITED FUNDING POLICY on FIJI.
This is what I propose as the 1st target action and time frame in the financing agreements between the International Monetary Fund and World Bank or any other entity for that matter as an absolute prerequisite to a Fiji Island economic assistance draw down for whatever purpose it is designated as being for:
Precondition 1: "The Military Regime of Fiji SHALL WITHIN 72 HOURS RESTORE the 1997 CONSTITUTION of FIJI and COMPLY with the decision of the FIJI COURT OF APPEAL"
