El director del FMI es... socialista. En principio es curioso, siendo que el FMI es el blanco de todos los ataques de los progres cuando se trata de rechazar sus propuestas de ajuste a países con economías en crisis.

Wallpaper nacional y popular

"Fondo monetario"

Para la pantalla de la dama y el monitor del caballero.

Minga!

Transcript of a Press Conference by International Monetary Fund Managing Director Dominique Strauss-Kahn with First Deputy Managing Director John Lipsky and External Relations Director Caroline Atkinson Istanbul, Turkey
Friday, October 2, 2009

QUESTION: Thank you. Do you believe that the decision of Argentina not to accept a mission to accomplish an Article IV is in contradiction with G-20 mandate and your own advice for more collaboration among countries? And do you believe that this resistance comes from the past experience between the country and the IMF? Thank you.

MR. STRAUSS-KAHN: How do you know that Argentina does not want an Article IV? How do you know that your country does not want to have an Article IV? I had recent conversation with the Finance Minister, Mr. Boudou, and the President, Cristina Fernandez, and I think that we are making very nice step forward, so my hope is that in the near future we will be able to resume relationship, normal relationship with Argentina. So it may be the last time you are able to ask this question.

(link)

Transcript of Press Briefing on the International Monetary Fund’s World Economic Outlook by Olivier Blanchard, Economic Counsellor and Director of the Research Department, with Jorg Decressin, Chief of the World Economic Studies Division, and Krishna Srinivasan, Chief of the Multilateral Surveillance Division
Istanbul, Turkey
Thursday, October 1, 2009

QUESTION: Two questions on Argentina. You mentioned in the WEO that Argentina will suffer the second worse recession in the Western Hemisphere after Mexico, if I am not wrong. In what ways you predict that forecast?

Second, you also mentioned that the government has created a Board of Academic Advisors to assess differences about the CPI results. The government just says that these Economic Advisors will not be able to change their results from the past, especially from 2007 to the present time, because no country did that. Do you expect more confidence about the CPI, given that restriction?

Thank you.

MR. DECRESSIN: On Argentina, the economy indeed experienced a steep fall. Activity, according to our estimates, declined by 2 1/2 percent in 2009. We are expecting a recovery to take hold, helped by the recovery of commodity prices, the rebound in external demand, and also stabilizing financial conditions. Thus, for 2010, we forecast growth of about 1 1/2 percent.

Now, we see significant positive growth only emerging in the course of 2010. In a number of other economies, we see such growth already emerging in 2009. With respect to your comments on the CPI, we welcome all efforts by all member states to improve their statistics, and we are very keen to learn as to what exactly the government is planning to do. Once we know more, then we will also have a clearer opinion.

(link)

Capítulo 4

Argentina and the IMF
Updated February 26, 2009

The last Article IV Executive Board Consultation was on July 28, 2006. Argentina is a subscriber to the Special Data Dissemination Standard.

- - -

International Monetary Fund
Washington, D.C., Thursday, February 26, 2009

MS. WROUGHTON: I've heard that the Fund is reengaging with Argentina. Could you maybe give me details on that?

MR. HAWLEY: I don't have much by way of detail, but in the context of the global crisis we're working closely with all our members and of course interested in deepening our dialogue with Argentina.

QUESTION: I just wondered what kind of form might this deepening dialogue would take with Argentina? How distant had relations become over the past few years and what kind of interaction are you currently engaged in?

MR. HAWLEY: We maintain a regular bilateral dialogue with the authorities in Argentina, including through our Resident Representative in the country.

QUESTION: Also on this issue of Argentina, there hasn't been an Article IV with Argentina for years. I don't recall when was the last one. You have this dialogue, but this is very unusual that you don't do an Article IV with a member country. So what is the next step with Argentina? Should you do that Article IV? What is the process there?

MR. HAWLEY: As we've said before, we would anticipate that we'll undertake the next Article IV consultation in the normal way in the months ahead.

QUESTION: May I ask a follow-up on Argentina? You're saying that the Article IV will be discussed in the next months? That a change as far as I know because it has been years without this process. So I guess there is some kind of reengagement there. I was wondering if it has anything to do with negotiations with the Paris Club? It seemed that this issue was resolved with Argentina said they were going to pay and then now they didn't pay so that thing is sort of up in the air and I don't know. Usually the IMF is involved with those negotiations.

MR. HAWLEY: Questions regarding developments on the Paris Club should be addressed to the Argentine authorities themselves.

QUESTION: This issue of the Article IV is new that you are going to negotiate, that you are going to start reviewing that in the next months. Right?

MR. HAWLEY: What I said is what we've said before, that we anticipate undertaking the Article IV in the normal way in the months ahead. Thank you very much.

Volvimos al Fondo

QUESTIONER: Do you have anything, any comment on Argentina's decision to pay off the Paris Club from its reserves and what implications that might have?

The other thing is, Argentina has not had an Article IV with the IMF since July 2006. Are there any plans for a follow-up and what sort of implications does that have for overseeing that economy?

MR. AHMED: First, I should say that we do welcome the normalization of relations between Argentina and its creditors. Our dialogue with the authorities continues, and we hope to make the Article IV visit in the next few months.

...

QUESTIONER: Can I just come back to the Argentina issue. You welcomed normalization with creditors, but this does not address the issue of the private creditors at all. This is just creditor nations. So the question is, what sorts of steps, once Argentina has paid off the Paris Club, does it need to take especially with regard to the inflation data, to normalize that situation?

MR. AHMED: As I said, I think our dialogue with Argentina continues, and I don't really have anything more specific to give you on that beyond what I've said on it.

Link

Banco del Sur

Como el Estado es del pueblo, o sea de nadie, los fondos que éste toma de la sociedad son utilizados sin mayor reparo en proyectos de dudosa necesidad o utilidad. Más aún cuando no existe ningún tipo de contrapeso a las acciones del Ejecutivo, cuyo resultado es que el campo de acción de éste se vea totalmente aumentado al infinito para hacer y deshacer.

Ahora resulta que los dineros públicos serán utilizados para formar el denominado Banco del Sur, del cual dicen los fundadores se encargará de financiar proyectos de desarrollo en sectores clave de la economía, orientados a mejorar la competitividad y el desarrollo científico y tecnológico, agregando valor y priorizando el uso de materias primas de los países miembros.

Esto ya había sido acordado en aquella visita de Kirchner a Chávez en febrero pasado, pero hasta ahora solo había quedado en puras palabras. Aunque intenten disfrazar al banco como una nueva entidad que financie inversión productiva, no es más que un típico acto caprichoso de decirle al FMI: miren, nos hacemos nuestro propio banco solamente para joderlos. Es más, qué mejor que leer a los propagandistas chavistas sobre este nuevo banco, del cual dicen persigue como objetivo central ser autónomo de las políticas económicas neoliberales del FMI y BM, pues busca disminuir el depósito del ahorro interno de las economías de la región suramericana en los bancos del Norte. Asimismo es un paso previo a la formación de la moneda común del Sur como respuesta a los efectos nocivos de las crisis del dólar.

Es muy probable que este nuevo engendro acabe como toda institución latinoamericana donde se mezclan tipos como Chavez o Kirchner. Al banco le terminarán encontrando financiamientos a los amigos del poder que luego nadie pagará, o se financiarán obras por el triple de su verdadero costo al estilo Skanska. Todo gracias a las estúpida idea de querer hacernos los enojados y creer que hay que inventar cosas a cada rato en vez pensar el futuro.