SDNY COURTHOUSE,
July 15 – When the
International Monetary Fund
held its biweekly embargoed
press briefing on July 15,
Inner City Press asked about
crypto-currency legislation in
Paraguay and again El
Salvador, about the
assassination in Haiti and
COVID-19 lack of transparency
in Cameroon. IMF video and
transcript forthcoming.
Spokesperson Gerry Rice
responded on each. Short video
on Twitter here;
YouTube here.
Now on July 29 on
Cameroon, this: " On July 29,
the Executive Board of the
International Monetary Fund
(IMF) approved three-year
arrangements under the
Extended Credit Facility (ECF)
and the Extended Fund Facility
(EFF) for Cameroon for SDR 483
million (about US$ 689.5
million, or 175 percent of
Cameroon’s quota) to support
the country’s economic and
financial reform
program. Approval of the
ECF/EFF enables immediate
disbursement of about US$
177.2 million, usable for
budget support. This follows
Fund emergency support to
Cameroon under the Rapid
Credit Facility (RCF) totaling
SDR 276 million, about US$ 382
million or 100 percent of
Cameroon’s quota (see IMF
Press Release No. 20/205 and
IMF Press Release No.
20/318). Cameroon faces
significant development
challenges heightened by the
pandemic. An upsurge in
COVID-19 cases since January
2021, has raised concerns
about growth prospects and the
external and fiscal positions.
Additionally, security risks
in parts of the country
persist." Yes, Biya's
slaughter in Ambazonia, on
which the UN refuses to answer
Inner City Press, which it has
banned 1223 days for asking.
Inner City Press
on Cameroon asked the IMF,
among other things, if there
was any meat on the bones of
calls for transparency, giving
the missing COVID-19 money.
Rice said the IMF had met with
the women leaders who wrote to
it, and that a third RCF
facility will be considered by
the IMF Board in the coming
weeks. Watch this site.
Watch this site.
Back on January 8
Inner City Press asked the
IMF's Helge Berger, Mission
Chief, about China's so-called
Belt and Road Initiative:
"Your Article IV report cites
China's "overseas lending
projects" amid "rising
geopolitical tensions and
economic and trade frictions."
How does the IMF think that
rising debt levels among
African countries, and
increased skepticism about the
"Belt and Road" will impact or
be addressed going forward?
-Matthew Russell Lee, Inner
City Press. Video here.
(An aside: Inner
City Press has
reported on
the CEFC China
Energy Fund
Committee's
activities in
Chad and
Uganda and in
the UN, on
which the UN is
UNresponsive.)
Other questions
included
China's digital
currency (Inner
City Press also reports
on
crypto-currency
cases in the
U.S. District
Court for the
Southern
District of
New York and
elsewhere).
Berger said
when used
overseas an
issue is that
residents
could start
using another
country's
currency, if
it is easier.
We'll have more
on this.
***
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