Amid
Layoffs in
Greece &
Deposit Loss
in Cyprus, IMF
Upbeat, UN
Rates Raters
By
Matthew
Russell Lee
UNITED
NATIONS, July
31 -- In the
aftermath of
International
Monetary Fund
policies in
Greece and
Cyprus, the
IMF on
Wednesday
morning pumped
out relentless
if unrealistic
good news.
Greece
is moving to
lay off 4000
civil servants
this year and
15,000 by the
end of 2014.
Cyprus has
decreed 47/5%
losses on some
bank accounts;
Cypriot
finance
minister Haris
Georgiades
said thus "the
banking
sector is on
its way to
being
stabilized"
and "the
country
remains
committed to
meeting all
bailout
targets."
On
the IMF's
Cyprus press
call, 7 am
Eastern time
in the US,
mission
chief Delia
Velculescu was
asked, if the
country's
program next
goes
to the IMF
Executive
Board
September 20
with her
report
finalized
earlier in the
month, how
will it take
into account
new data?
The
question
arises in the
context of the
IMF admitting
the the
"multiplier"
of effects it
used in Greece
was
inaccurate.
Velculescu
quickly said
all will go
well -- then
promised a
transcript of
the the call,
but only
tomorrow or
even Friday.
Some
sense of
urgency. It
was after the
call that the
IMF
released this
joint press
release, here.
Of the Greek
layoffs, an
IMF report
made public 8
am today says,
Public
administration
reform has
lagged far
behind and the
authorities
are beginning
to address
delays...
progress in
completing
staffing plans
and placing
public sector
employees in
the mobility
scheme has
been very
slow."
At
the UN, Inner
City Press has
learned,
outgoing
President of
the
General
Assembly Vuk
Jeremic of
Serbia intends
to hold his
final
debate on a
topic that is
or should be
relevant to
the IMF: the
credit rating
agencies.
What has been
done to reform
them, after
their shameful
role in the
subprime
meltdown? It's
the General
Assembly that
will be
debating this.
Watch this
site.
, 
