Global News Journal

Acronym soup swamps Malaysia reform drive

Malaysia’s Prime Minister Najib Razak says he has embarked on a series of radical economic reforms. In reality it feels as if he has unleashed a barrage of incomprehensible acronyms on the unsuspecting public of this Southeast Asian nation.

The charge for economic reform is being led by the snappily named PEMANDU. As well as being the Malay word for “driver” it stands for the government’s Performance Management and Delivery Unit.

PEMANDU is in charge of formulating and implementing NKRAs (National Key Result Areas), MKRAs (Ministerial Key Result Areas) and getting “Big Results Fast”, according to its website, although it singularly failed to win political backing for a radical revamp of Malaysia’s costly subsidy regime.

It is also helping to formulate the 10th Malaysia Plan, 10MP for those in the know, a communist-era sounding 5-year plan that aims to help lift this middle income country to developed nation status by 2020.

PEMANDU is part of the GTP, the Government Transformation Programme, which also involves the SITF (Special Implementation Task Force). Throw in the NKEAs (National Key Economic Areas), another thinktank known as the EPU (Economic Planning Unit) and you haven’t reached the end of the alphabet spaghetti dreamed up by Malaysia’s civil servants…. There’s still the ETP. the NEP (sometimes good, sometimes bad) and the NEM (New Economic Model).  

To be fair to Malaysia, it is not the only country in the world that is wallowing in economic acronyms, the U.S. gave the world TARP, a $700 billion bank bailout programme, and the even more mind-numbing ABCP MMMFLF   (don’t ask), but it is fair to ask what Malaysians have got from all of this.

IAEA’s ElBaradei knocks heads together on Iran

At his penultimate meeting with governors of the U.N. nuclear watchdog before he steps down in November, Mohamed ElBaradei gave diplomats a reminder of the colourful prose and no-nonsense authority they may soon miss.

   A veteran of the long-running dispute between the West and Iran over its contentious nuclear programme,  the director-general of the International Atomic Energy Agency  urged the 35-nation governing body to “put (your) heads together to break the logjam,” on the same day that Tehran submitted a package of proposals to foreign powers.

   He criticised countries – he did not name them but was clearly referring to Israel and France — who have suggested he hid evidence from his latest written report on Iran, pointing undeniably to illicit Iranian research into the making of atomic bombs.

   “Talking about formalities, whether the work plan has been implemented or not,  whether people telling us how to suck eggs, how to write our reports, whether there is a (secret) annex  (on Iran)  — these are not the issues,” he said in a swipe at both sides of the debate.

   “If anybody…has any information we have not shared, that has passed muster, been assessed critically in accordance with our practices, please step forward today. Otherwise, as a preacher would say, you should forever hold your peace,” ElBaradei told delegates.

   “We have, in our reports, always tried not to understate the facts or overstate the facts. We have serious concerns, but we are not in a state of panic. Because we have not seen diversion of nuclear material, we have not seen components of nuclear weapons. We do not have any information to that effect.”

   ElBaradei’s Aug. 28 report lent credence to a Western the intelligence dossier implying military dimensions to Iran’s nuclear activity.  But ElBaradei said caveats were still in order.

from Global Investing:

What a web we’ve woven

Thanks are due to the World Economic Forum for clearly  explaining the interlinked web of misery currently facing the world.  Make what you will of the details in the graphic below -- and if you can, please do let us know! -- but the overall impact really does spell it all out.

This Vonnegutesque cat's cradle, incidently, comes from the forum's new report, Global Risks 2009, released ahead of its annual meeting in Davos between January 28 and February 1. It shows an interlinked world facing a monumental series of interlinked risk, some of which  investors are having to confront for the first time.  Sheana Tambourgi, head of WEF's global risk network, explains the report in this video: