SDNY COURTHOUSE,
Nov 18 – When the
International Monetary Fund
held its biweekly embargoed
press briefing on November 18,
Inner City Press asked about
South Sudan: "It appears the
IMF met with / in South Sudan
this week. Please confirm, and
summarize the state of
discussion between the IMF and
South Sudan."
Here's the
answer, from an IMF
Spokesperson: "“The director
of the IMF African Department,
Mr. Abebe Selassie, and the
Mission Chief for South Sudan,
Mr. Niko Hobdari, visited Juba
earlier this week to discuss
progress on South Sudan’s
economic
reforms.
“During the meetings that Mr.
Selassie and Mr. Hobdari had
with his Excellency President
Salva Kiir and other
officials, they highlighted
the importance of continuing
the economic reforms supported
by the Staff Monitored Program
(SMP) especially the need for
transparency and
accountability in oil revenue
and public
spending.
“The economic reforms in South
Sudan, which are supported by
the SMP that was approved by
IMF Management on March 30,
2021, are aimed at
strengthening governance and
helping create the conditions
for strong and inclusive
growth by restoring fiscal
discipline, implementing a
rules-based monetary policy
framework, and eliminating
distortions in the foreign
exchange
market.
“The first review of the SMP
was approved by IMF Management
on October 18, 2021 and the
staff visit to conduct the
second review of the SMP is
expected in the coming
months."
Inner City Press
also asked: "On Myanmar, since
my question and the answers in
previous IMF briefings, have
the authorities in Myanmar
provided anymore disclosure of
where the IMF's million have
gone? What steps are being
taken by the IMF on this?"
To this,
IMF Spokesman Gerry Rice said
that while the IMF has not
recognized the new government
- that step would require one
half of the IMF's members'
votes - the IMF wants the
world to know that the
government in control in
Myanmar is, in fact, reporting
data.
Inner City
Press followed up, asking if
this answers seeming
"positive" on the new
government meant that it was
complying with the reporting
commitment of the previous,
overthrown government. Rice
chaffed at his answer being
called positive, saying the
IMF just tries to report
facts. This will be on IMF
video and transcript. For now,
4 minute podcast here.
Within the
constraints of the time
between Rice's answer and the
10:30 am lift of the embargo,
Inner City Press has found out
a bit more. It seems the new
government was angry at
reports that it was not
reporting any data, and was by
implication stealing money.
In fact,
it is reporting some data,
although even close observers
troubled by development but
eager to avoid more sanctions
on Myanmar acknowledge there
is a ways to go on the
procurement data, beneficial
ownership of payees and the
like that is missing in Fund
recipients like Cameroon.
That said,
it is pointed out that things
were hardly a paradise of
disclosure even under the Aung
San Suu Kyi government, and
that gets lost in much of the
reporting.
Inner City
Press is firing up its Google
Translate to pour over those
reports which have been issued
by the government. The
reporting issue is hardly
likely to move the needle in
terms of recognition of the
regime. But it is not unlike
the range of assessments of
the Taliban government in
Afghanistan. Apologist or
propagandist, there should be
an approach that is neither of
these. Watch this site.
Back on November
4, Inner City Press asked the
IMF about Ethiopia and Tigray,
Chad and its Glencore debt,
and the IMF's status with
Zambia. Spokesperson Gerry
Rice responded on each.
Podcast here.
Short video of Q&As on
Twitter here.
IMF video here,
transcript forthcoming.
Answering on Ethiopia, Rice
for the IMF said it is
"difficult to move forward
with program activities" at
the moment. Can you say,
Tigray? His answer on Chad did
not include, as Inner City
Press' question had, Glencore.
And on Zambia there is not
time frame, but talks begin
today - virtually.
Back on September
16 Inner City Press asked Rice
about crypto-currency
legislation in
Ukraine and
again El
Salvador,
about the coup
in Guinea and
the role of
the Venezuela
talks in
Mexico on
release of the
SDRs. YouTube
of IMF video here.
Full transcript here.
Inner City Press
asked, "
what is the IMF's view of
Ukraine's move to regulate
crypto-currency? Also, the new
legislation proposed in
Panama, and the implementation
of the El Salvador Bitcoin as
legal tender bill?" When
called on, Inner City Press
added that Ukraine would use
nuclear reactors' output for
mining.
Rice cited
an upcoming virtual mission to
Ukraine later this month, and
said that on El Salvador, the
talks are under Article 4, not
for a program, as least at
this point.
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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