User Preferences

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

Blog Feeds

forward

The Saker
A bird's eye view of the vineyard

offsite link Paul Craig Roberts and Michael Hudson: Privatization Is the Atlanticist Strategy to Attack Russia Mon Feb 08, 2016 14:23 | The Saker
by Paul Craig Roberts and Michael Hudson source: http://www.paulcraigroberts.org/2016/... Two years ago, Russian officials discussed plans to privatize a group of national enterprises headed by the oil producer Rosneft, the

offsite link The Latin America SITREP February 2016, by Jack Mon Feb 08, 2016 13:23 | Scott
Contents: 1) Main events in Latin America in 2016: US elections, Pink Tide Fights Back? (Venezuela, Argentina, Brazil) Peace in Colombian? Cuba: in from the Cold and OAS v CELAC

offsite link Documentary: Ukraine ? Masks of revolution. Eng. Subs Sun Feb 07, 2016 15:31 | The Saker
VPE presents highly anticipated, controversial (to some) documentary about so called Maidan revolution. Movie itself has been produced by high ranking agents of Kremlin inside of French Canal+ TV channel:

offsite link To Refugee Or Not To Refugee ? That Is The Question? Sun Feb 07, 2016 14:23 | mod editor
This comment was chosen by Mod TR from the post ?Turkey’s Gates To Europe?.  The moderator believes this comment looks at another reason for the flood of refugees into Germany

offsite link Russia Defense Report ? Feb. 6, 2016: Battle for Arctic Sat Feb 06, 2016 15:02 | The Saker
If you are having trouble viewing this video, go to the Youtube version at https://www.youtube.com/user/crimeanf...

The Saker >>

Human Rights in Ireland
www.humanrights.ie

offsite link THE SPECIAL CRIMINAL COURT, THE IRISH GENERAL ELECTION AND THE PROPOSED FRENCH CONSTITUTIONAL AMENDM... Mon Feb 08, 2016 13:03 | Ntina Tzouvala

offsite link Out on the Inside Thu Feb 04, 2016 06:00 | Sinead Ring

offsite link A&L Goodbody and Irish Refugee Council Asylum Law Award 2016 Wed Jan 27, 2016 08:46 | Liam Thornton

offsite link The Espaces Generation Climat and the domestication of public engagement Fri Jan 15, 2016 11:43 | Ntina Tzouvala

offsite link Reflections on climate action in the aftermath of Paris Tue Jan 12, 2016 13:17 | Ntina Tzouvala

Human Rights in Ireland >>

Cedar Lounge
For lefties too stubborn to quit

offsite link More election media 18:07 Mon Feb 08, 2016 | WorldbyStorm

offsite link February Socialist Voice from CPI 18:05 Mon Feb 08, 2016 | WorldbyStorm

offsite link Murky? the latest reports on the conflict? 14:21 Mon Feb 08, 2016 | WorldbyStorm

offsite link Does it never end? 12:21 Mon Feb 08, 2016 | WorldbyStorm

offsite link When he becomes the story? 08:12 Mon Feb 08, 2016 | WorldbyStorm

Cedar Lounge >>

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

offsite link The Financial Crisis:What Have We Learnt? 19:58 Sat Aug 29, 2015

offsite link Money in 35,000 Words or Less 21:34 Sat Aug 22, 2015

offsite link THE WRATH OF KANE: BANKING CRISES AND POLITICAL POWER 09:32 Fri Jan 30, 2015

offsite link ALWAYS THE ARTISTS: WEEK THREE OF THE BANK INQUIRY 23:11 Thu Jan 22, 2015

offsite link FIANNA FÁIL AND THE BANK INQUIRY : SOME INITIAL OBSERVATIONS 21:04 Mon Jan 12, 2015

Dublin Opinion >>

IMF Annual Meetings Focus on High Debt Burdens and Global Inequality

category international | miscellaneous | news report author Friday April 11, 2014 20:54author by Arielle Retrosi Report this post to the editors

G24 Concerned with IMF Quotas and SCOTUS Argentina Case

The annual International Monetary Fund (IMF) and World Bank meetings are focusing on the role of high debt burdens in both global economic recovery and increasing inequality. At the onset of the meetings, the G24 released an IMF statement noting that the IMF's failure to implement quota reform and the outcome of the US Supreme Court Argentina/NML Capital case impacts global inequality.

"The G24 knows that emerging markets have a lot to lose if the Supreme Court decides in favor of the hedge funds and against Argentina," stated Eric LeCompte, Executive Director of Jubilee USA Network, a religious development coalition.

The G24's broader disappointments stem from the failure in implementing the 2010 IMF Quota Reform agreement. The reforms sought to offer fairer representation in the governance and efforts of the IMF. The reforms have stalled because the US Congress has not approved them. Since the United States government has the dominant vote in the IMF, the reforms can not move forward until they are approved by the US Congress.

"The Obama Administration believes in the reforms and urgently wants Congress to pass them," noted LeCompte. "At this time, Congress is actively questioning what is the appropriate role for the fund."

Ahead of the meetings, IMF Managing Director Christine LaGarde and World Bank President Jim Kim spoke publicly about inequality and focused on the IMF's April World Economic Outlook Report. The report forecasts cautious improvement for several advanced and emerging economies, including the United States, but notes that the recovery is uneven and vast inequality persists. One of the principle issues the report reviews is how sustainable the debt loads are for both G20 and developing countries. 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 continues to actively explore more stable debt restructuring processes.

"The IMF is right to focus the conversation on high debt burdens that promote inequality and limit recovery," shared Eric LeCompte. "Everyone agrees there is a problem and hopefully everyone is moving to agreement that more orderly and predictable debt restructuring processes are the answer."

Jubilee USA Network is an alliance of more than 75 US organizations, 400 faith communities and 50 Jubilee global partners. Jubilee's mission is to build an economy that serves, protects and promotes participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

© 2001-2016 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