On
Ukraine, IMF
No Comment on
MH17, Lagarde
Calls Yatz
& Poroshenko
By
Matthew
Russell Lee
UNITED
NATIONS, July
25 -- At the
International
Monetary
Fund's July 24
embargoed
briefing,
Inner City
Press asked
IMF
Deputy
Spokesperson
William Murray:
Inner
City Press: "On
Ukraine, what
is the IMF's
estimate or
thoughts on
the impact of
the downing in
Malaysia
Airlines
Flight MH17 in
Eastern
Ukraine, and
its impact, if
any, on the
IMF's program?
MR.
MURRAY: You
know, we're
concerned
about conflict
in the region
and a
statement we
issued the
other day
addresses that
issue.
But
what about
MH17 and its
aftermath?
(The IMF did substantively
answer
Inner City
Press' Gaza
and Israel
question, here).
On Ukraine, on
July 25, an
IMF
spokesperson
said:
"Christine
Lagarde,
Managing
Director of
the IMF, had
telephone
conversations
with President
Poroshenko and
Prime Minister
Yatsenyuk
today. The
discussions
focused on the
implications
of the recent
political
developments
in Ukraine for
economic
policies, in
particular for
the
authorities
ability to
implement the
program that
is being
supported
by a Stand-By
Arrangement.
The Managing
Director
encouraged
steady
implementation
of the
authorities’
reform
program,
including the
policy package
recently
agreed with
Fund staff.”
Back
on July 1 in
the
International
Monetary
Fund's Article
IV report on
Russia, just
out from under
embargo on
July 1, the
IMF recounts
sanctions and
counter-sanctions
but not its
own role in
Ukraine
including
austerity
conditions
imposed.
The IMF
recites how
the US, EU,
Japan,
Switzerland,
and other
countries
“have adopted
sanctions
against
Ukrainian and
Russian
individuals
and entities
in response to
the unfolding
situation in
Ukraine, as
well as the
suspension of
bilateral
negotiations
on a variety
of topics.”
Then, the IMF
continues, “on
March 20 and
March 24,
Russia imposed
retaliatory
sanctions on
U.S. and
Canadian
government
officials.
Russia also
passed a bill
to create a
national
payment system
insulated from
foreign
companies’
influence, and
is considering
the creation
of a national
rating
agency.”
So is that a
good thing?
The IMF
doesn't say.
When the IMF
released its
Article IV
review of the
United States,
it held a
press
conference
with Christine
Lagarde (at
which, to her
credit, she
called for the
US Federal
Reserve to
communicate
better).
On Russia,
there was not
press
conference,
just the
embargoed
publication of
the report.
The IMF will
hold a July 2
press
conference
about
Bangladesh, in
Dhaka - but it
is not clear
it will be
webcast. If
even street
protests are
live-streamed,
why not this?
Watch this
site.
Footnote:
these
questions
remain
unanswered by
the IMF:
On
Slovakia, what
is IMF's
response to
Finance
Minister Peter
Kazimir
insisting the
government
will base its
decision-making
on Slovak
legislation
stating that
the VAT rate
should be
reduced
automatically
when the
public-finance
deficit falls
below three
percent of
GDP?
On
Morocco, can
you confirm
what central
bank governor
Abdellatif
Jouahri has
said, that a
new two-year
line of credit
is being
finalized and
will “be less
than $6.2
billion
granted by the
fund in
2012-2014”?
And again, is
Western Sahara
included in
the IMF's
Morocco data?
(As submitted)
In
Yemen, in
light of
attacks on
power plants
and pipelines,
what is the
status of the
IMF's $550
program and
its
conditions? Is
there a
concern the
cuts to
subsidies
could lead to
further
unrest?
In
Myanmar, does
IMF believe
the country is
ready for the
opening of
foreign
financial
institution,
while
governance of
the Central
Bank of
Myanmar
continue to
fall under
Myanmar's
outgoing
central
banking law,
dating to
1990?
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