...try of Finance, various other economically relevant public institutions and five SOEs are all required to have their financial and operational budgets approved and co-signed by non-Liberian international experts placed by the IMF. What exactly does this entail? Specifically, international non-Liberian experts were placed in key administrative positions for a minimum period of three years. For example, the executive director of the Bank of Liberia...
...lism. He was France’s Minister of Finance in the late 1990s and managing director of the International Monetary Fund from 2007 to 2011, at the height of the sovereign debt crisis. When he stepped down from his position at the IMF, economist Eswar Prasad remarked that the IMF would “find it hard to find as effective and skilful an advocate for keeping the institution central to the global monetary system.” Our very own Joseph Stiglitz...
...testers was, as often is the case in Argentina, inflation. It is believed that inflation has soared above 25 percent a year, though official national figures present estimates of an inflation of 10 percent at most. Today, the IMF has given the country an ultimatum (December 17) to respond to skepticism of all international economists and agencies about its official figures. If the deadline is not met, Argentina may be censured by the IMF, and, ev...
...subordination to the United States and unfettered liberalization. Now, President Cristina Fernández de Kirchner – who, along with her husband, has garnered widespread support as a result of her hard-line negotiations with the IMF – has looked toward rapprochement with Hugo Chávez and regional economic integration as diplomatic counterbalances to the role of the United States. Brazil is another example of this new autonomy. While embracing globali...
...protectionist measures such as tariffs, even if other countries are using the tariffs punitively (for violation of environmental policy, for example). The International Monetary Fund also draws radicals’ ire. The role of the IMF is to act as a lender of last resort for developing countries who cannot make payments on their loans. The IMF loans, however, often come with some “conditionality” stipulating the borrowing country adopt some particular...
...s of hectares, it is impractical to communicate with individuals or local leaders. To make their deals secure, investors instead negotiate with national-level political leaders endorsed by international organizations like the IMF and the World Bank, even if these leaders do not have the support of local residents. Unfortunately for the displaced and their land, the IMF and World Bank generally back leaders who show promise to prioritize their cou...
...ither complete default or the intrusion of foreign powers into the financial affairs of a European nation—a prospect that should sincerely frighten governments and markets across the West, that of Cyprus included. Perhaps the IMF should consider less stringent terms, as it is already, and leave out the bank levy. But this seems unlikely. So, then, it seems that Cyprus has to swallow a very bitter pill, but, unlike the other options, it does not c...
...d of realpolitik, procurement of some new territory will likely be necessary. Such territorial transfers may be purchased with rights to SIS maritime zones, as discussed, or with duly substantial loans from the World Bank and IMF. The UN should play a role, perhaps in establishing a forum in which the necessary multitude of transactions can be fairly and consistently conducted. Even with all this, friction is foreseeable, and developments of art...
...Y Graduate Center, Talal Assad, is the longing for normality and the simultaneous desire to institute the changes demanded by the revolution. The continuation of neoliberal policies and the dependence on Saudi Arabia and the IMF provides the financial stability that Egypt needs but also prolongs problems of speculative international finance, which Mitchell states is historically at the core of undermining democracy. There is the constant struggl...
...the global community based on the level of Internet penetration in the country. Just like organizations such as the International Monetary Fund, this governing body would grant membership according to contribution. Unlike the IMF, however, influence will be based on current usage rather a country’s initial contribution to the system. The US enjoys the highest percentage of Internet penetration as a percent of the society. 2005 statistics posit th...
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