Interview with Cathal Goulding Mon Dec 26, 2016 17:11 | Cathal Goulding
Trump, Russia and the CIA Sat Dec 10, 2016 18:23 | Gavin Mendel-Gleason
Why is my rent so high? Mon Oct 31, 2016 18:51 | Gavin Mendel-Gleason
Review of Capitalism: Competition, Conflict, Crises by Anwar Shaikh Sun Oct 30, 2016 16:21 | Gavin Mendel-Gleason
Electoralism vs Abstentionism (Or: Why You Should Run For Office) Fri Aug 26, 2016 17:07 | Slyvia Smith
Spirit of Contradiction >>
Interested in maladministration. Estd. 2005
RTEs Mary Wilson: A woman with some brain… Anthony
Irish journalism: Suffering from a serious malaise Anthony
Brian Cowen: A political idiot Anthony
Hell at the Gates: A propaganda exercise Anthony
Public Inquiry >>
A bird's eye view of the vineyard
British radio station interviews the Saker Thu Jan 19, 2017 23:46 | The Saker
Syria?s Future Thu Jan 19, 2017 23:31 | The Saker
by Igor Pejic The Syrian crisis is slowly reaching its seventh year. Violence, radicalization, civil displacement, fragmentation and deterioration of the Syrian society are reaching unprecedented levels. International and regional
Syrian War Report ? January 19, 2017: Govt Forces Advancing On Multiple Fronts Thu Jan 19, 2017 23:30 | The Saker
Trip Report: China Thu Jan 19, 2017 23:26 | The Saker
Period: December, 2016. By: Anil Chelampath (a pseudonym) I just got back to Canada from a 30 day trip through China, and wrote a trip report for my friends here
Here?s how the Trump presidency will play out Thu Jan 19, 2017 23:22 | The Saker
by Pepe Escobar The Trump era starts now ? with geopolitics and geoeconomics set for a series of imminent, unpredictable cliffhangers. I have argued that Trump?s foreign policy guru Henry
The Saker >>
The Right to Legal Advice in the Garda Station: DPP v Doyle Thu Jan 19, 2017 10:12 | Vicky Conway
Guest Post: Extension of the 14 day rule: potential implications for Irish embryos Thu Jan 12, 2017 18:05 | Eilionoir Flynn
Notes on Judge Harding-Clark?s Report on the Symphysiotomy Payment Scheme. Thu Nov 24, 2016 17:50 | Máiréad Enright
The Practical Implications of Miller v SSEEU for Brexit: Nine Reflections Thu Nov 03, 2016 16:30 | Fiona de Londras
Having Our Voices Heard ? the Official Languages Act foreshadowing the Recognition of Irish Sign Lan... Wed Nov 02, 2016 09:35 | admin
Human Rights in Ireland >>
IMF World Economic Outlook: Economy Improves for Some as Inequality Persists
Thursday April 10, 2014 16:45 by Arielle Retrosi
Debt Restructuring Process Discussed by IMF and G20
The IMF released the World Economic Outlook Report ahead of the annual IMF meetings. The report forecasts improvement for several advanced and emerging economies, including the United States, but notes that the recovery is uneven and vast inequality still continues. One of the principle issues the report reviews is how sustainable the debt loads are for both G20 and developing countries.
"The IMF acknowledges that investors are still concerned with unsustainable debt loads in developing economies," noted Eric LeCompte, Executive Director of Jubilee USA Network, a religious coalition focused on the impacts of the financial crisis on poor people. "It doesn't take a rocket scientist to know what the IMF reports. In a post financial crisis world, the rich have gotten richer and more people have been pushed into extreme poverty."
Over the last year the G20 has vigorously debated how to deal with unsustainable country debts and speculative investments, root causes of the global financial crisis. One year ago in Washington, G20 Financial Ministers discussed the possibility of an international sovereign bankruptcy process in order to provide stability in the international financial system. The IMF staff also released a paper ahead of last year's meetings which explored aspects of the process. Last fall during the St. Petersburg Summit, G20 heads of state discussed the process and invited the IMF to continue to review debt sustainability and debt issues. IMF staff continue to explore the process.
"The G20 and the IMF are asking will we be prepared twelve years from now when the next regional or global financial crisis hits," shared LeCompte. "It's tremendously exciting that global decision makers are reviewing these possibilities. An international bankruptcy process for countries provides international stability and predictability."
Sustainable debts is a theme of this year's annual IMF meetings. Jubilee USA, Jubilee Germany and Friedrich-Ebert-Stiftung New York Office have organized a high level panel during the meetings to focus on how debt sustainability impacts people living in extreme poverty. Policymakers, Finance Ministers and Sovereign Debt Lawyers will discuss debt sustainability and an international bankruptcy process for countries.
"One out of five people are living in extreme poverty. We can't solve inequality without solving unsustainable country debts," said LeCompte