Thursday, December 8, 2016

ICP Asks IMF About Its Egypt's Program and Human Rights, IMF Ignores like Questions on Guinea Bissau & G77

By Matthew Russell Lee

UNITED NATIONS, December 8 -- When the International Monetary Fund held its biweekly briefing on December 8, Inner City Press submitted a number of questions, about Egypt:

"In Egypt, is it the IMF's understanding that none of the first tranche will be used to pay off old loans? Also, any comment on the arrest of Azza Soliman, amid the crackdown on civil society and the media?"

  IMF Spokesman Gerry Rice lumped most of the online questions together - with the exception of Reuters, which he named in order to offer a defense of “Madame Lagarde” - and on Egypt's recent tariff increases said these are NOT part of the IMF's program.

 Rice blamed the tariff increases, rather, on the World Trade Organization. He added that the IMF's staff report and other documents should be released very soon, in the next few days. We'll have more on that.

   Rice did not answer, or even take, these Inner City Press questions:

On Guinea-Bissau, by when does the IMF expect authorities to entirely unwind the bailouts of Banco da Africa Ocidental and Banco da União?

At the UN the Group of 77 and China has said of the IMF that “a new quota formula is needed that further shifts quota shares to developing countries while protecting the quota share of the poorest countries.” Does MD Lagarde agree?

  We'll have more on this - and, we hope, on the World Bank - in the near future.

Back on October 27, Inner City Press asked three questions including:

"On Yemen, what is the IMF's view and monitoring of President Hadi's action to move the Central Bank to Aden, including impact on the humanitarian situation?"

IMF spokesperson Gerry Rice read out the question and then said moving the bank is complicated, that the bank has done a good job. Beyond the Vine video of complete answer here.