IMF says S'pore economy will die without foreign workers

http://www.businesstimes.com.sg/gov...orker-curbs-could-hurt-competitiveness-growth

IMF says Singapore's foreign worker curbs could hurt competitiveness, growth

18 Oct10:05 AM

[Singapore] Singapore's plans to cut reliance on foreign workers could reduce its competitiveness and growth potential while keeping core inflation elevated, the International Monetary Fund said in a report on Saturday.

Singapore's measures have led to a tight labour market and wage growth that have helped fuel core inflation.

The Monetary Authority of Singapore this week maintained its stance of allowing a gradual appreciation of the currency to try and keep core price pressures in check.

The Fund said Singapore's strong external trade position - its current account surplus was 18.3 per cent of GDP in 2013 - seemed to be stronger than fundamentals justify and the government needed to keep up efforts to boost consumption.

The IMF's executive board of directors said the country's dependence on trade flows left it particularly vulnerable to a slowdown in the growth of trading partners as well as to global financial market volatility.

"They stressed the need for continued vigilance to risks and spillovers in the financial and housing sectors, and further efforts to promote external rebalancing, address demographic challenges, and reduce inequality," the report said, referring to the IMF board.

The report forecast real GDP growth for Singapore of 3.0 per cent in both 2014 and 2015 and saw core inflation rising to 2.4 per cent by 2015. Reuters

Foreigners create jobs for Singaporeans. The sooner everyone accepts this fact the better it will be for the whole country.

Leongsam said:

Foreigners create jobs for Singaporeans. The sooner everyone accepts this fact the better it will be for the whole country.

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what kind of jobs? what level of pay? for which segments of society? big talk, no evidence. no one's gonna believe you. and if the electorate cannot be convinced, then the IMF can go fuck themselves. those self-serving bastards. they screwed up indonesia already in the recent past or have we all forgotten already? IMF made up of another bunch of pencil pushing ensconced in the ivory tower type.

hofmann said:

what kind of jobs? what level of pay? for which segments of society? big talk, no evidence. no one's gonna believe you. and if the electorate cannot be convinced, then the IMF can go fuck themselves. those self-serving bastards. they screwed up indonesia already in the recent past or have we all forgotten already? IMF made up of another bunch of pencil pushing ensconced in the ivory tower type.

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Who are this crowns at IMF?
Only can talk and screw up,if they are so great they don't need Singapore US$4 B to help them, maybe can take over running our garment,replace all this useless white monkeys.

IMF is infiltrated with the same scum as those that sit among the ranks of PAP,they pretend to have the interest of poor people and poor nations at heart but they are no better than loan sharks,looking for opportunities to profit off the misfortunes of those that have fallen on hard times.....and PAP is in the same bed with them,remember the 4 billion loan PAP made to IMF?when they are too stingy to even donate half a million to countries that have been hit by natural disasters.

IMF ? If you listen to them 100% you will soon say to yourself 'I M Fucked '

Leongsam said:

Foreigners create jobs for Singaporeans. The sooner everyone accepts this fact the better it will be for the whole country.

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Yep keeps landlords like me happy

Precisely. The IMF and World Bank are not benign institutions. They are globalist organizations hell bent on having a one world govt, a one world economy.

Remember the Indonesian riots which caused Suharto to get ousted? It's the same trick from the IMF/World Bank: lend the country the money, then charge a hefty interest on the loan. To pay back the loan, the country had no choice but to raise the prices of necessities such as oil... and then all hell breaks loose.

The PAP govt and the Lees are puppets and dogs of the globalists. Even now, Lee Hsien Loong is negotiating for the Trans-Pacific Partnership.

You would also remember that years ago, when the IMF/World Bank came to Singapore for some meetings, the entire Suntec area was fenced up and heavily armed guards patrolled the vicinity. It's not really about security as it is about showing Sinkies who's the boss.

http://en.wikipedia.org/wiki/Singapore_2006#Controversy

The acronym IMF brings back memories of Suharto, the humiliation he suffered and his downfall. Mathathir was more daring and did the unthinkable that conventional wisdom would forbid. Then come 2008 and what did IMF do? A clear contrast of bullying and bullshit.

hofmann said:

what kind of jobs? what level of pay? for which segments of society? big talk, no evidence. no one's gonna believe you. and if the electorate cannot be convinced, then the IMF can go fuck themselves. those self-serving bastards. they screwed up indonesia already in the recent past or have we all forgotten already? IMF made up of another bunch of pencil pushing ensconced in the ivory tower type.

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Do what the commies in PRC do. Ignore all rubbish from those white trash in IMF, World Bank, etc and seek their own ways to survive in the world. Now the commies are making RMB an acceptable currency for international trade to replace USD.

Be the fools and those guys in IMF will make you the fools.

frenchbriefs said:

IMF is infiltrated with the same scum as those that sit among the ranks of PAP,they pretend to have the interest of poor people and poor nations at heart but they are no better than loan sharks,looking for opportunities to profit off the misfortunes of those that have fallen on hard times.....and PAP is in the same bed with them,remember the 4 billion loan PAP made to IMF?when they are too stingy to even donate half a million to countries that have been hit by natural disasters.

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Be a good boy and IMF will lend you the money. Be a bad boy and go against USA, the IMF will whack you.

don't forget the IMF fuck up with greece as well.

http://online.wsj.com/news/articles/SB10001424127887324299104578527202781667088

In an internal document marked "strictly confidential," the IMF said it badly underestimated the damage that its prescriptions of austerity would do to Greece's economy, which has been mired in recession for the last six years.

The IMF conceded that it bent its own rules to make Greece's burgeoning debt seem sustainable and that, in retrospect, the country failed on three of its four criteria to qualify for aid.

frenchbriefs said:

IMF is infiltrated with the same scum as those that sit among the ranks of PAP,they pretend to have the interest of poor people and poor nations at heart but they are no better than loan sharks,looking for opportunities to profit off the misfortunes of those that have fallen on hard times.....and PAP is in the same bed with them,remember the 4 billion loan PAP made to IMF?when they are too stingy to even donate half a million to countries that have been hit by natural disasters.

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Tharm Shagyourmama is a considered a dark horse candidate to be the next IMF chief. He is regarded highly by them and one of the few sinkie officials respected on
the world stage. Tharman was appointed the Chairman of the International Monetary and Financial Committee, the policy steering committee of the International Monetary Fund (IMF). I am sure he got some one there to write this fluff piece for him.

International Mother Fuckers...

christine lagrade is adept at politics. she was infamously involved in a fraud. http://www.bbc.com/news/world-europe-28948925

when crooks like lagrade and yang ying jump to their boat, you know it is a thief's lair.

Leongsam said:

Foreigners create jobs for Singaporeans. The sooner everyone accepts this fact the better it will be for the whole country.

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If your hypothesis is correct, how is it that the USA and Europe are experiencing high levels of unemployment and their economies suck?

PinkShirtNoHeart said:

If your hypothesis is correct, how is it that the USA and Europe are experiencing high levels of unemployment and their economies suck?

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That's because they have a minimum wage. Thank goodness the PAP is smart enough not to do the same.

Leongsam said:

That's because they have a minimum wage. Thank goodness the PAP is smart enough not to do the same.

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Effects of social expenditure on economic growth, public debt, and education[edit]
Researchers have found very little correlation between economic performance and social expenditure.[55] They also see little evidence that social expenditures contribute to losses in productivity; economist Peter Lindert of the University of California, Davis attributes this to policy innovations such as the implementation of "pro-growth" tax policies in real-world welfare states.[56]

Nor have social expenses contributed significantly to public debt.

According to the OECD, social expenditures in its 34 member countries rose steadily between 1980 and 2007, but the increase in costs was almost completely offset by GDP growth. More money was spent on welfare because more money circulated in the economy and because government revenues increased. In 1980, the OECD averaged social expenditures equal to 16 percent of GDP. In 2007, just before the financial crisis kicked into full gear, they had risen to 19 percent – a manageable increase.[57]

http://en.wikipedia.org/wiki/Welfare_state

There has been many criticisms of the IMF and one suggest that its pro-employer-very much like the PAP.

Despite its goal of promoting global economic stability, the IMF has consistently pressed countries to institute labor policies that history shows work against stable economic growth, a new report concludes. The policies advocated by the IMF seem to be more aimed at attacking collective bargaining for the benefit of employers in those countries

http://www.rightingfinance.org/?p=366

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