Hale Ali'i April 17, 2015 at 8:39am Emerging countries of G-24 blast US for not backing International Monetary Fund reform
WASHINGTON: The emerging economies of the G-24 group sharply criticised the United States for holding up what they see as critical reforms of the International Monetary Fund.
Speaking at the spring meetings of the IMF and World Bank, the group said the failure after five years of the US Congress to ratify the reforms was undermining the effectiveness and legitimacy of the global crisis lender.
"We reiterate our deep disappointment with the lack of progress in implementing the IMF quota and governance reforms agreed to in 2010 and strongly urge the US to complete ratification," they said.
"This remains an impediment to IMF credibility, legitimacy and effectiveness and has considerably delayed forward-looking commitments," they added, pointing to a second set of reforms that had been expected this year.
The 2010 reforms, a doubling of IMF funding and a reallocation of voting power to boost China and other up-and-coming economic powers, were originally propelled by Washington, and the President Barack Obama's White House has repeatedly endorsed them.
But the US Congress has refused to sign off on the deal, with some legislators not wanting to contribute more money to the IMF and others concerned about any erosion to the dominant US role at the fund.
Criticisms of Washington have steadily grown, and IMF Managing Director Christine Lagarde said Thursday that she understood why other IMF members "are frustrated and impatient to see that reform actually implemented."
"I am also calling on the United States to actually obtain ratification of that reform so that the institution can continue to be representative of the entire community as it evolves."
The G-24 endorsed the "Plan B" put forward in recent weeks to split the the two facets of the 2010 reforms and put through the quota revision without the need for ratification by the US Congress. Link
Arvin Plan B activated by IMF.... Let's have an outstanding Friday! !!!!
DaWu > Arvin Indeed!
EXOGEN April 17, 2015 at 9:07am
NOW YOU ALL UNDERSTAND WHAT BUS 17 REPRESENTED ( A Picture Clue/Intel)
THE IMF RE-FORMS DETOUR!!!!!!!!!!!
Cheng April 17, 2015 at 10:10am Can some be kind to summarize what the IMF detour is and how it affects us currency holders directly or indirectly. Thanks
Majic11 > Cheng Imo with congress refusing the reforms it means that the other countries will be free to revalue against the FRN so we'll see the strength of the frn be reduced once again to the levels of early last year. Perhaps even less. Which will be spun by politicians as a great thing because it will boost exports and blah blah blah. Until something stable (trn/usn) gets introduced.
Topic: Times and conditions change so rapidly that we must keep our aim constantly focused on the future. Walt Disney
ZOWCHOWSKI » April 17th, 2015, 8:17 am IAM STAYING LOW FOR COUPLE DIFFERENT REASONS..........
1. SERIOUSLY WONDER IF THERE REALLY MUCH ELSE TO SAY......
2. AS I SAID, IN AN EARLIER POST, IN ONE HEMISPHERE IT IS SPRING TO SUMMER, WHILE IN ANOTHER HEMISPHERE IT IS SUMMER INTO FALL........TRANSITIONING.........
3. STILL KEEPING EYES ON CALENDARS, LOL YEP, CRAZY TO SOME PROBLY, LOL LOL, HOWEVER NOT TO THOSE THAT FOLLOW SUCH BY THIER CULTURE/RELIGION........
ANIMALS DO THE SAME, THIER ACTIONS ARE DICTATED BY SEASONS...........
MAY YOU ALL HAVE A GOOD DAY, G/B M/Z
Walkingstick » April 17th, 2015, 11:02 am
Prime Minister arrives in Baghdad after the conclusion of his visit to Washington
17/04/2015 05:38 |
BAGHDAD / Source News / .. arrived Prime Minister Haider al-Abadi, on Friday, to Baghdad after the conclusion of a visit to Washington several days.
Ebadi said in a statement Office Agency / Source News /, received a copy of it, "Prime Minister, arrived in Baghdad after the conclusion of a successful visit to Washington."
This was Prime Minister Haider al-Abadi began a visit to Washington on Monday, where he met with US President Barack Obama and Vice President Joe Biden and other US officials, and discussed in general the general situation in the region, and in Iraq in particular, and the developments of the war against terror Daash.anthy / i
Walkongstick : Iraq calls for a review of the dinar exchange rate
Version: paper - International Version: Friday, April 17 / April 2015 (01: 0)
Last updated: Friday, April 17 / April 2015 (01: 0) BAGHDAD - Adel Mahdi
The CBI has issued resolutions aimed at raising the value of the dinar against the dollar, which included doubling the share of banking from companies, and allow banks «rational» and «Iraq» and «Government Commerce» open windows to sell the dollar for banking companies and small importers, reflected on the commercial market, which saw a significant decrease in the dollar's exchange rate after rising from 1228 to 1334 dinars to the dollar.
The decisions of the «Central» repercussions deemed interested in it contributed to the improvement in the dinar exchange rate, especially in light of the increasing demand for the dollar to settle import goods from the requirements, arguing the stability of the market accompanied by a relative increase in the value of the dinar.
He suggested the former deputy governor «Central» Economic Adviser to the Prime Minister the appearance of Mohammed Saleh correct path and the value of the dinar new prices in line with the economic situation faced by the country, saying that the official price of the dinar against the dollar is unrealistic in the current circumstances.
He said in a statement to «life» that «the central reserves» covers currency in circulation increased by one and a half times and is built on the basis of the $ 103 price for a barrel of oil with a surplus in the balance of payments, but the situation has now changed after the decline in oil prices, causing a deficit in the current account the balance of payments. He stressed the need to «lift restrictions on the central determining amounts sell the currency within Article 50 of the federal budget for the 2015 law, because of this restriction, the risk to the stability of the Iraqi market, as the central pricing is not conducive to stability in the presence of the parallel market». Article 50 of the federal budget bill that «Central is committed to identifying sales of the dollar in daily auction ceiling does not exceed $ 75 million». Saleh pointed out that «there is no room to deal with the deficit in the current account of the balance of payments official Baltsairh followed the dinar, which leads to the depletion of foreign currency».
He quoted economist Maytham Laibi saying that reducing the number of outlets selling the currency policy did not achieve results because they limited the ability of the market to expand into selling the dollar across multiple ports. He explained that the inventory of outlets selling the currency led to a monopoly, which in turn led to price controls in a larger format, so it has been working on the expansion of the number of ports. He added that the decline in the dollar exchange rate will remain subject to the height or the dollar amounts that can «Central» available to the market, and this depends on oil prices. LINK
FrostyTheSnowman: » April 16th, 2015, 6:22 pm
BAM!!! WalkingStick you knocked the cover off of the ball with this article!!!
Read between the lines family.
Why would any MAJOR US CEO bother to sit down and discuss business with a country that does not have INTERNATIONAL BANKING LAWS to protect their "investments" in that country ... especially if their currency is basically worthless and not INTERNATIONALLY recognized? IMO - they wouldn't!
Hats off to you WalkingStick!
Hello PRIVATE SECTOR! Frosty
walkongstick :PM al-Abadi Meets US CEOs
Posted on 16 April 2015 By John Lee.
On his official visit to the United States, Prime Minister Haider al-Abadi met a group of CEOs and chairmen of major US corporations in Washington on Tuesday.
According to a statement from the PM’s office, the business leaders shared their respective visions on assisting Iraq and on solutions to Iraq’s economic and financial challenges caused by the reduction in oil prices.
The names of the companies were not released, but they were described as being in the financial, banking, commercial, petroleum and technological sectors.
Al-Abadi committed to “remove any impediment in the way of the investing company.”
Purifiers: The Beverly Hillbillies series starts as Jed Clampett, an impoverished mountaineer, is living alongside an oil-contaminated swamp with his daughter and mother-in-law. A surveyor for the OK Oil Company realizes the size of the oil field, and the company pays him a fortune for the right to drill on his land.
Patriarch Jed moves with his family into a mansion next door to his banker (Milburn Drysdale, of the Commerce Bank of Beverly Hills), in the wealthy Beverly Hills, California, where he brings a moral, unsophisticated, and minimalistic lifestyle to the swank, sometimes self-obsessed and superficial community. Double entendres and cultural misconceptions are the core of the sitcom's humor.
Plots often involve the outlandish efforts Drysdale makes to keep the Clampetts in Beverly Hills and their money in his bank. The family's periodic attempts to return to the mountains are often prompted by Granny's perceiving a slight from one of the "city folk."
When Hollywood speaks.... (not speaking in particular... to the video I posted above) there is "sometimes" things we can "GLEAN"... "MUCH MORE" so "TODAY"... (especially 'some' movies).... than ever before.... it sometimes speaks (INDIRECTLY) to the... "TRUTH" about goings on in our world... IMO
Also.... IMO... this (type of communication.... revelation) has been going on for MANY MOONS NOW.... and IMO.... Frank sees this as well Purifiers