Upcoming Events

International | Anti-Capitalism

no events match your query!

User Preferences

  • Language - en | ga
  • text size >>
  • make this your indymedia front page make this your indymedia front page

Blog Feeds

forward

Dublin Opinion
Life should be full of strangeness, like a rich painting

offsite link IRELAND?S TAX HAVEN INDUSTRY 22:01 Tue Aug 05, 2014

offsite link IPA Summer School - Social Justice, Poverty and Ireland - 28 July 2014 11:56 Mon Jul 28, 2014

offsite link Feminist Economics - Cuts are a Feminist Issue 08:21 Wed Jun 18, 2014

offsite link Feminist Economics - Care and Social Reproduction 16:11 Fri Jun 13, 2014

offsite link Feminist Economics - By Way of Introduction 12:12 Fri Jun 06, 2014

Dublin Opinion >>

Irish Left Review
Joined up thinking for the Irish Left

offsite link Women, This State Hates Us. Thu Aug 21, 2014 11:35 | Sarah Clancy

offsite link Obstruct Reality, Consciously Manipulate, and Deny the Denial: Propaganda, Irish... Thu Aug 21, 2014 11:15 | Mark Kernan

offsite link Left Forum: The Marxist Seminars Are Back! Thu Aug 21, 2014 10:33 | Irish Left Review

offsite link August Socialist Voice is Now Available Online Thu Aug 21, 2014 09:41 | Communist Party of Ireland

offsite link Island of Saints and Sadists: Ireland 2014 Mon Aug 18, 2014 22:32 | William Wall

Irish Left Review >>

Human Rights in Ireland
www.humanrights.ie

offsite link Call for Submissions: Irish Community Development Law Journal Fri Aug 22, 2014 11:01 | admin

offsite link Suicide and the Protection of Life During Pregnancy Act: Where Are We Now? Wed Aug 20, 2014 12:00 | Máiréad Enright

offsite link Contesting the cruel treatment of pregnant women ? Ruth Fletcher Tue Aug 19, 2014 08:15 | GuestPost

offsite link Expertise on Abortion in Ireland Mon Aug 18, 2014 16:21 | admin

offsite link Suicide and the Protection of Life in Pregnancy Act 2013. Sat Aug 16, 2014 15:13 | Máiréad Enright

Human Rights in Ireland >>

NAMA Wine Lake

offsite link Farewell from NWL Sun May 19, 2013 14:00 | namawinelake

offsite link Happy 70th Birthday, Michael Sun May 19, 2013 14:00 | namawinelake

offsite link Of the Week? Sat May 18, 2013 00:02 | namawinelake

offsite link Noonan denies IBRC legal fees loan approval to Paddy McKillen was in breach of E... Fri May 17, 2013 14:23 | namawinelake

offsite link Gayle Killilea Dunne asks to be added as notice party in Sean Dunne?s bankruptcy Fri May 17, 2013 12:30 | namawinelake

NAMA Wine Lake >>

“IMF is dead, a walking dead” - FDC

category international | anti-capitalism | news report author Tuesday November 20, 2012 13:52author by Freedom from Debt Coalition (FDC) Report this post to the editors

MANILA, Philippines – As the first female chief of the International Monetary Fund (IMF) visited the country for the first time and met with Pres. Benigno S. Aquino III Friday morning, debt watchdog Freedom from Debt Coalition staged a protest near the Malacañan Palace, in solidarity with the peoples of the Eurozone.

2012freedomfromdebtcoalitionfdc.jpeg

“For FDC, the IMF is dead, a walking dead,” said the group’s president, Ricardo Reyes. “The sooner we bury this economic zombie, the better for the economies and the peoples of the world.”

IMF Managing Director Christine Lagarde arrived Thursday afternoon and met with the President Friday, ostensibly to solicit insights on how to solve the Eurozone economic crisis and also to advise the Philippine government to rationalize tax incentives granted to business. She is in the country as part of a visit to Southeast Asia. She is also scheduled to attend a meeting of ASEAN nations in Cambodia early next week.

In a statement, FDC said that Lagarde’s coming and her reception by the Philippine government evokes a surreal scene. “This institution has been widely dismissed as monstrous failure to stabilize the global financial system and as a wrecker of developing economies,” it said.

“No amount of persuasion and distortion of history can redeem the IMF from its pathetic track record – its failure to predict many crises of regional and global impacts, including the US financial crisis; its counterproductive prescriptions to such crises, and its policy conditionalities to its loans to many developing countries, like the Philippines, which drove them deeper into debt and maldevelopment. For all these reasons, the IMF should have long been consigned to oblivion and death,” FDC said.

“But no, the G-20, especially the G-7 masters of global finance capitalism has artificially resuscitated it with a new mission: to push for the same old rotten prescriptions of monetary tightening and fiscal contraction or austerity measures, this time, in Eurozone countries in crisis while promoting countercyclical macroeconomic policies like expansionary spending and investments to counter the recession in the US and Western Europe,” added FDC.

“We, Filipinos, were once victims and, until now, suffer the grave consequences of the structural adjustment programs (SAPs) imposed by the IMF on us in the 1980s. Now, we witness once again the grave consequences of IMF’s recycled mantra, as our fate will be the same fate of the peoples of the Eurozone under the IMF’s direction. Massive cuts in public spending and the negative multiplier effects they generate have led to massive unemployment and collapse of social services. Consequently, this will result in intensifying global inequality between the North and the South, and between the 99% of the North and their super, super-rich elites,” FDC said.

“We, in FDC, join the peoples of the Eurozone who are currently on strike. The IMF should not be permitted to spread socioeconomic diseases through its vile, anti-people and neoliberal policies here in the Philippines, or in the Eurozone, or in any other country,” FDC said.

http://www.fdc.ph

2012imfisdeadfdcphilippines.jpg

2012imfzombie.jpeg

2012philippinesprotest.jpg

© 2001-2014 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy