( continuation of my previous posting )
to five percent, with an objective of eliminating 50 percent of extreme
poverty by 2015.  The IMF director general is confidently promoting a new
facility for poverty reduction and growth, through which the Fund is to
abandon its "all macro-economic" apprach.

The fumdamental aspect of these programmes is recognition of the circular
relationships among the effort to reduce inflation, (to establis) good macr-
economic balance, and the reduction of poverty and inequities," he said.

We have found that the more you obtain reductions in poverty and
inequities, the more you give validity to your monetary and macro-econimic
programmes, which became stronger and further reduce poverty and
inequities," he added.

Asked how
 long the IMF had taken to draw this conclusion, Camdessus said
that such priciples had only recently been recognised by economists.

"Economic progress takes time," he said.  "Our institutions are serious
institutions whci don't wish to sell illusions."

My apologies for the disjointed presentation and happy reading
Sidi Sanneh

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