IMF Says No Side Agreements With Sri Lanka, Qs on Egypt, DRC, Romania

By Matthew Russell Lee

UNITED NATIONS, June 5 -- After in Sri Lanka the Vice Chairman of the UNP Lakshman Kiriella MP called on the government to “reveal the several subsidiary agreements it had entered into with the International Monetary Fund, which impinged on the budgetary allocations for essential services,” Inner City Press put the question to IMF spokesperson Gerry Rice at his June 5 embargoed briefing.

Rice read out the question, “Are there 'subsidiary agreements' with Sri Lanka that have not been disclosed?”

Then Rice gave a prepared answer: “Sri Lanka completed its stand-by arrangement with the IMF in April 2012” and “does not currently have a program with the fund.” He said the “terms and conditions were outlined in government's letter of intent... published on IMF website.”

Rice concluded, “there are no further side agreements.”

Meanwhile on Greece, Rice characterized as a “private meeting” that of Christine Lagarde, whose name was floated for the European Commission, and mission chief Paul Thompson, giving rise to a slew of follow-up questions. The parliament is out of session until September. Might it be a good time for Lagarde to make a move?

Ghana has still not requested any program. Inner City Press also asked, so far without answer:

On Egypt, does confirmation of the election of General Sisi have any impact on the IMF program for the country? What is the status or next steps?

In DRC, given the IMF's previous critique of state-owned Gecamines, is there any IMF comment on Gacemines now calling off its plans to divest a 20% stake in the Kamoto Copper Company (KCC) mining project to Fleurette Group?

In Romania it's reported the IMF mission under Andrea Schaechter asked the Government to come up with measures to compensate for the 5 percent reduction of social security tax paid by companies for their employees. Can IMF confirm that, and does IMF have any comment on prime minister Victor Ponta saying June 4 that his government will not introduce any new taxes?

Watch this site.

IMF Stresses Lagarde NOT Call for Wealth Tax, Reheats on DR Congo Despite New Gecamines - Gertler, No Sudan

By Matthew Russell Lee

UNITED NATIONS, October 24 -- That the International Monetary Fund under Christine Lagarde has devoted more and more of its members' money to Europe is one thing. But her IMF now won't even answer basic questions about other continents, most notably sub-Saharan Africa.

At Thursday's bi-weekly IMF press briefing, amid in-room questions about Ireland and Greece and Cyprus, Inner City Press, Inner City Press submitted two questions about Africa: Sudan and the Democratic Republic of the Congo.

On Sudan, after Managing Director Lagarde's meeting with Sudanese financial minister Abdel-Rasool, what steps if any have been taken regarding the country's debt, what are the prospects and issues?

On DR Congo, does Gecamines reportedly concealing its possible sale of its stake in Kamoto Copper Co. to Dan Gertler impact on the chances of the IMF reviving its $532M DRC program or starting a new one?

But despite multiple submissions, and a separate e-mail, these Africa questions were not even read out. Rather, repetitive questions about Europe, a question about Egyptian officials saying the IMF insulted that that was not answered, old Argentina questions (the IMF said it had "nothing fresh"), and a pointed clarification that the IMF is not, repeat not, recommending a wealth tax. Of course not!

That clarification was made electronically to deputy spokesperson William Murray. He said, my colleagues want me to make this clear. But the colleague did not highlight or allow the Africa questions.

Finally, just before the 10:30 embargo, on the DRC this came in:

Subject: RE: Question Received
From: ____ at IMF
Date: Thu, Oct 24, 2013 at 10:21 AM
To: Matthew Russell Lee [at] InnerCityPress.com

Hi Matthew: Please find below the responses to your question on DRC. We’ll get back to you on Sudan.

· As we have already said, the Fund stands ready to start program negotiations with DRC if the authorities request it.

· Background: In May 2013 the authorities published an affidavit on the Comide transaction, paving the way for the reengagement of the IMF in a program context if the authorities request it.

The point is, now there is another Gecamines cover-up. That doens't change anything? Watch this site.

   

As IMF Half-Answers on Tunisia, Grilled on Lagarde, Called on Carpet for Tapie

By Matthew Russell Lee

UNITED NATIONS, May 23 -- When the International Monetary Fund held its biweekly embargoed press briefing on Thursday morning, its managing director Christine Lagarde was being grilled in the Court of Justice of the Republic, set up to judge France’s government ministers.

  At issue is Lagarde's actions while Finance Minister in payouts to Sarkozy supporter Bernard Tapie, who sold Adidas to Credit Lyonnais then got arbitration under Lagarde.

  At the IMF briefing, Lagarde's spokesperson Gerry Rice was peppered with questions: how much was the IMF board briefed about Lagarde's legal situation when she got the job, replacing Dominque Strauss Kahn after the hotel rape charges against him? How much has the IMF board since been briefed?

  Rice barely answered these or other submitted questions. He said, I'm moving on from this issue. Of the questions Inner City Press submitted, one was partial answered: the proposed Tunisia stand-by arrangement will go before the IMF board on June 7.

  But what of concerns raised in National Constituent Assembly about IMF program and what some call the anti-sovereignty conditions imposed by the IMF?

  On the indigenous, what is IMF's participation in this week's UN Permanent Forum on Indigenous Issues? If you can, compare to the World Bank. What safeguards if any does IMF have regarding the rights of indigenous peoples?

  On the Democratic Republic of Congo, what is the IMF's position and next steps on the previous $550 million program, now that Gecamines affidavit has been filed? 

   World Bank president Jim Kim, along with UN Secretary General Ban Ki-moon, is on the DRC, not only Kinshasa but also Goma (where Ban pledged help to the "Congolians"). That will be our next story. Watch this site.