Interested in maladministration. Estd. 2005
Diarmaid Ferriter: Denial and the language of cute hoorism
Fianna Fail liars Anthony
RTE journalist Claire Byrne brings Fine Gael TD Alan Farrell to heel Anthony
Is the establishment media finally waking up to political corruption? Anthony
Bus strikers beat themselves up Anthony
Public Inquiry >>
A bird's eye view of the vineyard
Naval Brief NB. 08/17 April 25th 2017 by LeDahu Tue Apr 25, 2017 22:13 | Scott
Opener As part of the Russian Defence Ministry Board in Moscow, Russian defence minister Shoigu said on 21 April that “the frigates will be the main combat ships of the
Hate mail in my inbox: Bend down and pick up that penny! Tue Apr 25, 2017 18:52 | The Saker
Dear friends, As you can imagine, I get quite a lot of hate mail. It has been a while now that I wanted to share of of that stuff with
Syrian War Report ? April 25, 2017: Syrian Army Advancing On Militant Stronghold Of Lataminah Tue Apr 25, 2017 15:46 | Scott
https://southfront.org/syrian-war-rep... 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: email@example.com or via: http://southfront.org/donate/ or
Emmanuel Clinton vs Marine LeTrump Tue Apr 25, 2017 15:12 | The Saker
by Pepe Escobar for the Asia Times Here?s the body count in the latest geopolitical earthquake afflicting the West: The Socialist Party in France is dead. The traditional Right is
Sacred Communities and The Emergent Multipolar Landscape Tue Apr 25, 2017 14:59 | The Saker
By Blake Archer Williams (Blake Archer Williams? two books, Introduction to Wal?yic Islam and Creedal Foundations of Wal?yic Islam, which are the sources for the ideas presented in this essay
The Saker >>
The Citizens Assembly Proposals: A Draft Bill Tue Apr 25, 2017 20:42 | admin
NUI Galway Announce New Director of Irish Centre for Human Rights Mon Apr 24, 2017 11:50 | Eoin Daly
Barriers to first trimester abortion care. Sun Apr 23, 2017 12:31 | admin
Why would any country put abortion in the Constitution? Thu Apr 20, 2017 17:28 | Máiréad Enright
Northern/Ireland After Brexit: Exploring the Human Rights Impact Tue Apr 18, 2017 15:06 | Liam Thornton
Human Rights in Ireland >>
For lefties too stubborn to quit
Gernika 80 -Then & Now: Speaker: Enda McGarry 22:44 Tue Apr 25, 2017 | irishelectionliterature
Nah, it?s okay mate? 19:39 Tue Apr 25, 2017 | WorldbyStorm
Tactical tactfulness 13:59 Tue Apr 25, 2017 | WorldbyStorm
What we are reading and the CLR Book Club, Week 17, 2017 12:05 Tue Apr 25, 2017 | WorldbyStorm
If he?s that bad how come he?s that moderate? 10:01 Tue Apr 25, 2017 | WorldbyStorm
Cedar Lounge >>
IMF Annual Meetings Focus on High Debt Burdens and Global Inequality
Friday April 11, 2014 20:54 by Arielle Retrosi
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