IMF
On Equatorial Guinea Talks Only
Governance Not Human Rights
Inner City Press Asks Of
By Matthew
Russell Lee, CJR PFT NY
Post
NEW YORK CITY,
Dec 12 – 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.
Now on
December 12
when Inner
City Press
again
submitted
questions to
the IMF
online, about
human
rights, the
IMF in its
last in-person
briefing of
the year spoke
about Equatorial
Guinea and
an upcoming Executive
Board meeting
only in terms
of
"anti-corruption
and governance"
- nothing
about human
rights, which
Inner City
Press asked
about, along
with Cameroon.
(In fact, the
IMF took that question from
the Paul Biya
government's
state media.) We'll
have more on
this.
In
other news,
the IMF
Executive
Board will
meet on
December 18.
Nearly all of
the questions
were about
Argentina, and
Inner City
Press repeated questions
about Honduras
and OneCoin weren't
answered or
even
mentioned,
when the IMF
said that's
all the
on-line
question that
they had. It
wasn't.
Here's to
better in
2020.
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
KurtulmuĹź
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
doesn't care.
Here are Inner
City Press' other
questions to
the IMF:
On
Somalia,
please provide
a read out or
response to
reports that
Somali
Minister of
Finance
Abdirahman
Duale Beyle
met officials
from the
IMF
Addis Ababa to
discuss the
fourth phase
of the Somali
pardon
program.
On Sri
Lanka, what is
the IMF's
response to
Independent
Expert on
foreign debt
and human
rights, Juan
Pablo
Bohoslavsky,
sayins that in
Sri Lanka,
there are
concerns at
the
significant
rise in the
value added
tax, given
that the brunt
of such taxes
is often borne
by the
poorest?
More
generally,
what is the
IMF's response
to Bohoslavsky
saying as to
the IMF that
"even though
austerity can
be a useful
tool of
administration
against the
squandering of
resources, it
is essential
to keep in
mind that
austerity
impacts the
most
vulnerable and
marginalised"?
On
crypto-currency
what is the
IMF's response
to Marshall
Islands
Minister David
Paul saying
the country is
moving forward
with its
plans.
According to
the post,
Minister Paul
will provide
further
details about
the Marshall
Islands’
crypto, the
Sovereign,
next week at
the Invest:
Asia 2019
conference?
Within months,
the IMF began
putting
pressure on
the Marshall
Islands to not
forego the
U.S. dollar in
favor of its
own digital
currency. The
Fund issued a
58-page report
in September
2018 and
warned against
the "potential
costs arising
from economic,
reputational,
AML/CFT, and
governance
risks"
associated
with the
issuance of
the Sovereign.
On the
DR Congo, what
is the IMF's
knowledge of,
and comment
on, that all
the big-name
advisory banks
are laying
siege to the
presidential
palace in the
hope of
winning the
contract to
advise the DRC
on its
relations with
the IMF?" Inner
City Press also asked,
again, for
"any updates
on Cameroon or
Haiti or
Yemen." Watch
this site.
More
here.
***
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