Word: nation
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Dates: during 2000-2009
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That prudence was one of several qualities that won Boutros-Ghali the IMF job. His track record as Egypt's Finance Minister was another: under him, the notoriously sclerotic Arab nation has grown at an annual rate of 7%. "He's seen as a facilitator, somebody who can generate progress," says Eswar Prasad, professor of trade policy at Cornell University and former head of the IMF's China division. "In Egypt, he's been able to operate under significant institutional and political constraints - that's valuable experience when you're dealing with...
Egypt is not a BRIC nation, which may make Boutros-Ghali the ideal man for the position, says Desmond Lachman, an expert on multilateral lending institutions at the American Enterprise Institute: "If the Chinese wanted [the chair of the policy committee], there would have been friction with other emerging economies, like India. Boutros-Ghali, coming from a smaller country, can be even-handed...
...when oil prices started to rise in 2003, Saudi Arabia was ready. For one thing, the Saudi Arabian Monetary Agency, the country's central bank, had greatly expanded the number of well-trained national staffers. Second, it had at its helm officials who remembered the bad days of low oil revenues. That meant that when the oil gushers were turned up again, money was saved and not aggressively spent as elsewhere in the region. The nation's wealth was also placed in very liquid investments, predominantly U.S. government paper assets, rather than real estate. While other regional investment funds were...
...Chuck was voted one of the 10 greatest coaches in NBA history. He won 638 regular-season games during 13 years in the league and another 75 in his 12 playoff appearances. When the time came to pick a coach for the greatest team ever assembled, our nation turned to Coach Daly. He didn't disappoint, leading the Dream Team to Olympic gold...
...many on the outside, Germany looks like a big, rich country enjoying the benefits of being Europe's largest economy. Inside, Germans know that looks can be deceiving. As in any nation, parts of Germany suffer from poverty, and Germans have always assumed they knew which parts: the west is rich and the east is poor. But a new report reveals the truth isn't that simple. The wealth imbalance in Germany isn't just between east and west; there are also large regional differences between the country's north and south. And across the country there are pockets...