Inner City Press -- Investigative Reporting From the United Nations to Wall Street to the Inner City

By Matthew Russell Lee

UNITED NATIONS, May 21 -- With Afghanistan in transition, the International Monetary Fund today issued a report that "several reforms have been delayed."

  On banks, the IMF's Article IV review says

  Last week John Sopko, the US special inspector general for Afghanistan reconstruction (SIGAR), said that the 2010 collapse of Kabul Bank was triggered by $935 million skimmed and stolen, 92% of it by a mere 19 people. He said, “it shows how the patronage system and the failure to prosecute people guilty of gross fraud and abuse is undermining the Afghan economy.”

   Then again, there have been few prosecutions for even larger, predatory lending triggered bank failures in the United States.

   While Ukraine and Greece were the subjects of the first six questions taken at the International Monetary Fund's May 8 embargoed briefing, the IMF impacts countries all over the world.  On May 8 and again on May 13, we covered Ghana.

  On Ghana, Inner City Press asked: the Secretary-General of the Trades Union Congress Kofi Asamoah spoke out on May Day against the government seeking an IMF program. What does the IMF make of it, and would the IMF consult with such opponents if a program were requested?

  On May 8, spokesperson Gerry Rice answered:

  Now the press release is out, stating among other things that

   We'll have more on this "virtuous cycle" and "crowing in of private sector activity." On May 8, Inner City Press also asked:

  In Pakistan, PTI Information Secretary KPK and MNA Ayesha Gulalai has said, “it is very unfortunate that Pakistan's budget is being prepared by the IMF in Dubai.. instead of taxing the 4 million wealthy identified by the FBR, burden is being passed on to the already burdened masses.” What is the IMF's response?

  On Madagascar, when George Tsibouris on May 6 said the government agreed to "address the issue of fuel price subsidies over time," can you be more specific on how much time the IMF envisions? Also, can the IMF be more specific about what is referred to by "creating a level playing field for the private sector"?

  While the Managing Director is in Morocco, can you answer if Western Sahara is included by the IMF in Morocco's data, and what impact the IMF believes the Western Sahara issue has on Morocco's economy and economic prospects?

This last one, Inner City Press also asked two weeks ago, and again more recently on connection with the IMF's Ukraine program. It was not answered, during or since Managing Director Lagarde's trip to Morocco. Watch this site.