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There is much debate over the benefits of IMF policies in Africa. For both sides see http://tinyurl.com/IMFhardship and http://tinyurl.com/IMFbenefits
International Monetary Fund Managing Director and, before he was charged, likely candidate for the French Presidency, Dominique Strauss-Kahn now sits in a cell on Rikers Island charged with assaulting the maid in his $3,000 a night hotel suite. How long do you think the maid has to work to earn that? One BBC report I heard last night said he likely would have been charged a discounted rate of $800/night. Still, I pose the same question.
I checked out hotel maid’s salaries in New York City on PayScale.com. I ran reports with a few different sets of variable. don’t know how long she has worked at that hotel, whether she has a supervisory role or how that hotel’s pay scale compares with others. It seems like she might have made something in the neighborhood of $20/hour. That’s $800 per week, i.e. the reduced rate Strauss-Kahn would have paid for one night! The per capita Gross Domestic Product of Guinea, the woman’s home country, is $1,000 annually! Mull that over in your brain for a minute. If I heard those figures correctly, the room that the Managing Director of the IMF occupies in NYC costs 3 times the Gross Domestic Product of Guinea at full rate. Fortunately the IMF is fiscally responsible and they insist on a discount rate. They pay only 80% of Guinea’s GDP for EACH and EVERY night!