A stronger IMF may not be achieved

Posted: 14th April 2008

"A stronger IMF may not be achieved unless it has the utility to capture, analyse and advise on international actions essential to securing good news from the string of bad news about markets and the global economy”, says Stephen Hall of InfoGov.

A slowing world economy, continued market turmoil, and increased inflationary risks requires coordinated action by all international players. “With such an immense information and knowledge challenge, how on earth can such an institution achieve this in a sufficiently short enough period to be effective?” he said.

“Major enterprises, let alone countries can take 6 months to perform one complete evaluation cycle. So with each country's situation being different, coherent action essential to creating the necessary multi-lateralism cannot be achieved without rapid and widespread information capture, unhindered by conventional technological boundaries and complimented by a rich tapestry of governance, risk and compliance utility.” Stephen said.

"I am content to accept that the bold spirit of multi-lateralism is alive and kicking. What I am not prepared to accept, however, is the presumption that this cultural shift is attainable without technology. A single internationally shared governance, risk and compliance environment is what is needed within the auspices of the IMF. The technology for this is Proteus. Proteus has the necessary flexibility and deployability essential to enable rapid and widespread capture of the information. It also has the tooling necessary for analysts to deliver fully informed recommendations on the collaborative changes sought by global economic stakeholders. These technology changes need to be made to dig us out of the key problems facing the global economy. These are said to be continued financial turmoil from the US sub prime effects, un-decoupled world and emerging markets, and mounting inflation.” he said.