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The Saker
A bird's eye view of the vineyard

offsite link Moveable Feast Cafe 2017/02/23 ? Open Thread Thu Feb 23, 2017 10:30 | Herb Swanson
2017/02/23 10:30:01Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link What does Russia produce? 1 Thu Feb 23, 2017 05:27 | Scott
Past September, a retired  Major General of the Czech army Hynek Bla?ko in one of his regular interviews to the newspaper Parlamentní listy commented on a possibility of a conflict

offsite link American Fascists Co-Opt Trump Protests Hiding Inside Civil Rights Movement Thu Feb 23, 2017 03:26 | The Saker
by GH Eliason Over the last couple of years I’ve written volumes on fascists making inroads into American politics and civil life. With civil and human rights it starts with

offsite link Syrian War Report ? February 22, 2017: Syrian Army Aims ISIS Stronghold Of Deir Hafer Wed Feb 22, 2017 22:41 | Scott
Syrian War Report ? February 22, 2017: Syrian Army Aims ISIS Stronghold Of Deir Hafer     On February 21, the Syrian army?s Tiger Forces, supported by Russian warplanes, liberated

offsite link Syrian War Report ? February 20, 2017: Turkey Further Pushes Its Plan For Raqqah Offensive Wed Feb 22, 2017 22:36 | Scott
Syrian War Report ? February 20, 2017: Turkey Further Pushes Its Plan For Raqqah Offensive     Pro-Turkish militants and the Turkish army have still been facing difficulties in breaking

The Saker >>

Human Rights in Ireland
www.humanrights.ie

offsite link Hague Justice Journal: Call for Papers Mon Feb 20, 2017 11:13 | GuestPost

offsite link Reflections on the Citizen?s Assembly (3): The Presentation of Dr. Joan McCarthy Tue Feb 14, 2017 14:01 | GuestPost

offsite link Reflections on the Citizens Assembly (2): The Presentation of Bobbie Farsides Tue Feb 07, 2017 05:44 | GuestPost

offsite link Languishing in Direct Provision: Rights in ?Reasonable? and ?Unreasonable? Times Mon Feb 06, 2017 18:10 | Liam Thornton

offsite link The Story of King Tex: A Modern Allegory Fri Feb 03, 2017 06:20 | GuestPost

Human Rights in Ireland >>

Cedar Lounge
For lefties too stubborn to quit

offsite link Men of the people? 10:28 Thu Feb 23, 2017 | WorldbyStorm

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offsite link Vague 08:28 Thu Feb 23, 2017 | WorldbyStorm

offsite link The struggle of the age 07:58 Thu Feb 23, 2017 | WorldbyStorm

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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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