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By Matthew Russell Lee, CJR PFT NY Post

NEW YORK CITY, Jan 30 – When the International Monetary Fund held its biweekly embargoed media briefing on November 7, Inner City Press submitted questions including on Equatorial Guinea, see below.

On January 30, Inner City Press in connection with thee 9:30 am embargoed briefing submitted questions about Luanda Leaks, Cameroon and some other topics. On Luanda Leaks, Inner City Press asked, " On Luanda Leaks, what have been the IMF's findings and actions given the evidence that has come out in the growing scandal?" This was emailed before 11 am:

    Luanda leaks     We do not comment on ongoing criminal investigations, trials and leaked documents.     Angola has a three-year EFF program with the IMF. As in other IMF programs, the fight against corruption is an important part of the program with Angola. This involves, inter alia, the strengthening of relevant legislation, such as working on an enhanced AML/CFT law, and other laws promoting stronger governance in public institutions. The effort also involves increased public transparency, for instance the timely publication of certified annual accounts by state-owned enterprises and increased use of the government’s electronic platform for procurement.   

Cameroon     The Executive Board has completed the fifth review of the arrangement under the Extended Credit Facility for Cameroon on January 22. For more details I would kindly suggest to consult our press release here

On November 7 Inner City Press asked: "On Equatorial Guinea, what is the status (and dollar volume) of the IMF's consideration of a program, and the weighing if at all on the length of time Obiang has been in power? "The loan, the amount of which has not been revealed, is scheduled to be considered by the IMF executive board in December."

 From the IMF's November 7 transcript, with video on page: "There's another question from Matthew, which I'll take on Equatorial Guinea, asking what's the status and the volume of the IMF's consideration of a program for Equatorial Guinea and the weighing, if at all, length of time that President Obiang has been in power. On that, I can say that just recently on October 21st, the Equatorial Guinea authorities and an IMF team reached staff level agreement on a three-year arrangement. Again, under the extended Fund facility, which is the more concessional arm of the IMF's lending. The authorities are working on an agreed set of measures that could allow the new program to be considered by the IMF's Executive Board in December. And Matthew had asked about the volume. We're looking at the program that could be supported by approximately $280 million. So, that's four [sic] Equatorial Guinea.  And anything else in the room?"

On September 26 Spokesperson already then Gerry Rice,  for new Managing Director Kristalina Georgieva, on Turkey said "this is also from Matthew, he has asked ' On Turkey, what is the IMF's response to ruling AKP deputy chair Numan Kurtulmuş criticizing a meeting between IMF & opposition parties, saying Turkey has "closed the topic with the IMF."'

  Then Rice said it is normal to meet with opposition - except in Cameroon, apparently - and that there has been no indication from the Turkish authorities they are looking for a program.

  On September 12 Inner City Press asked the IMF: "On Zimbabwe, please confirm or deny IMF's Patrick Imam saying that "it is clear, compared to the projections of the original SMP, which did not foresee the severity of the drought and its secondary impact, nor the electricity shock, that growth is almost certainly going to be revised downwards and inflation upwards compared to the original SMP forecasts." And what is the IMF's view of the (economic) impact of the crack down on protest and human rights defenders?"

  Spokesperson Gerry Rice said that the IMF team is in Harare, from September 5 to 17. On human rights, he said the IMF "focuses on economics" and that such questions should be directed to... bilateral creditor. At least he didn't say the UN, which under Guterres doesn't care.

More here.

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