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The Saker
A bird's eye view of the vineyard

offsite link Mohamed Bin Salman?s Do or Don?t Dilemma Thu Oct 19, 2017 05:12 | The Saker
by Ghassan Kadi Much has been said about the Saudi Crown Prince Mohamed Bin Salman (aka MBS), and most of it, has been in the form of criticism from different

offsite link Socialism, Land and Banking: 2017 compared to 1917 Thu Oct 19, 2017 05:07 | The Saker
by Michael Hudson Socialism a century ago seemed to be the wave of the future. There were various schools of socialism, but the common ideal was to guarantee support for

offsite link Syria War Report ? October 18, 2017: Government Forces Cross Euphrates, Push Toward Omar Oil Fields Wed Oct 18, 2017 17:02 | Scott
https://southfront.org/syria-war-repo... If you?re able, and if you like our content and approach, please support the project. Our work wouldn?t be possible without your help: PayPal: southfront@list.ru or via: http://southfront.org/donate/ or via: https://www.patreon.com/southfront The Kurdish-dominated Syrian Democratic

offsite link Syria-Iraq War Report ? October 17, 2017: Peshmerga Retreating From Contested Areas In Iraq Wed Oct 18, 2017 16:58 | Scott
https://southfront.org/syria-iraq-war... If you?re able, and if you like our content and approach, please support the project. Our work wouldn?t be possible without your help: PayPal: southfront@list.ru or via: http://southfront.org/donate/ or via: https://www.patreon.com/southfront The Syrian Arab Army

offsite link Stand for the Truth: A Government Researcher Speaks Out | 9/11 Evidence and NIST Wed Oct 18, 2017 15:09 | The Saker

The Saker >>

Human Rights in Ireland
www.humanrights.ie

offsite link Repeal or Replace? Tue Oct 03, 2017 06:31 | Fiona de Londras

offsite link An Abortion Law Immune from Constitutional Review? Thu Sep 28, 2017 20:14 | Fiona de Londras

offsite link Should the pro-choice movement support a new constitutional provision on abortion? Wed Sep 27, 2017 16:19 | Eoin Daly

offsite link Replace v Repeal and the Politics of Legal Certainty Thu Sep 21, 2017 10:57 | Máiréad Enright

offsite link Ireland?s violation of International Abortion rights: A perpetual Déjà vu. Sat Jul 29, 2017 18:49 | admin

Human Rights in Ireland >>

Cedar Lounge
For lefties too stubborn to quit

offsite link Being a Leftist 11:45 Thu Oct 19, 2017 | WorldbyStorm

offsite link Signs of Hope ? A continuing series 10:33 Thu Oct 19, 2017 | WorldbyStorm

offsite link Closure of post offices and other resources? It?s not the State to blame, it?s right wing government... 07:43 Thu Oct 19, 2017 | WorldbyStorm

offsite link The RDS on Saturday?. 21:08 Wed Oct 18, 2017 | irishelectionliterature

offsite link Catalonia and other matters. 17:32 Wed Oct 18, 2017 | guestposter

Cedar Lounge >>

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

offsite link Notes for a Book on Money and the Irish State - The Marshall Aid Program 15:10 Sat Apr 02, 2016

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

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

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