Friday, April 15, 2011
My Washington DC Diary
Sunday, 10th April 2011
Touchdown doles international airport in dc, destination: George Washington university inn
The time difference between Nairobi and Washington dc is 7 hours. Got to the hotel at about 10.00am, but there were no rooms available until 3pm, lucky me, there was a South African journalist on the shuttle to the hotel. He suggested we take a walk around Washington, and like 2 tourists we did the rounds, Lincoln Park, around white house, and a kite festival at the Lincoln Park.
And then Monday came, the excitement! Here’s a brief diary:
Press conference: global economic outlook
Global projections 4.5%
Developing countries & emerging economies 6.5%
Global financial analysis
2.00pm -John Lipsky
Before the crisis
Talks centered on the role of the IMF, World Bank, donor countries. Lipsky said a closed economy is not the answer, globalization is inevitable
The way to go is sustained rapid growth, globalization. Also touched on the role of emerging markers, and confidence in these economies seen through securities held by that developed countries in emerging economies offer to international investors in their local currency, the take up is impressive, also a sign that other currencies other than the dollar, etc are now becoming strong. The IMF is also changing; the fund has needed to think in crisis prevention and not just crisis support. Conditionality was a sticky issue especially for low income economies, but IMF says if countries can be encouraged to carry out reforms that will benefit the economy, then conditionalities are here to stay.
Mark plant-IMF Africa department.
It was interesting discussions around the relationship between African countries and the IMF. Africa is not a country. The diversification is immense and each country is treated in its own respect, and it is time the world started viewing it as such. I had a one on one later with mark plant
Editing, filming links and press conferences by World Bank and the IMF.
Jobs, inflation, hunger, and unbalanced growth across global economies are similar challenges in Developing countries including those in Sub-Saharan Africa to grow at 6.5% in 2011-2012. Political stability and sustained growth programs are key to tangible growth, which should trickle down to the citizens of every country. Kenya has received millions of dollars to be pumped into growth oriented projects under the vision 2030.
Focus on the Middle East, North Africa and Europe. Greece featured heavily. We're thinking of going for a reggae evening in Georgetown. Can’t wait! And a gentleman asks me aside and in faltering English asks me "Pretty woman, the movie, is about you?" how's that for a fine week!
Tomorrow and Sunday we meet African ministers of finance. Sunday, the communiqué is released. I plan for more interviews, on and off the record.
So far, I love Washington dc....oh the evenings are not documented..;-)