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Tag "IMF"

The IMF admits that Russia has survived both the drop in oil prices and the sanctions and is on the path of recovery

Press Release No. 16/529 “IMF Staff Concludes Visit to Russian Federation” End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion. Russia’s economy has absorbed the shocks from

The IMF Changes Its Rules to Isolate China and Russia

by Michael Hudson for the Unz Review As Russia and Asia move to circumvent the stranglehold of an aging, U.S. dominated international financial and legal system with its promise of endless austerity and privatization by foreign investors, the IMF and World Bank double-down by making it more difficult for them to transact business and administer credit. A nightmare scenario of U.S. geopolitical strategists is coming true: foreign independence from U.S.-centered

The IMF forgives Ukraine’s debt to Russia

by Michael Hudson specially for the Saker Blog On December 8, the IMF’s Chief Spokesman Gerry Rice sent a note saying: “The IMF’s Executive Board met today and agreed to change the current policy on non-toleration of arrears to official creditors. We will provide details on the scope and rationale for this policy change in the next day or so.” Since 1947 when it really started operations, the World Bank

China, IMF and SDR SITREP October 17th, 2015 by the Serbian Girl

Is China preparing for a “Super SDR” to challenge the US dollar? China has made every effort to bypass the US/EU financial institutions by creating parallel structures such as the AIIB, BRICS bank, launching initiatives such as New Silk Road, OBOR, and CIPs to replace SWIFT. They have also built-up their gold reserves in view of a possible gold-backed Yuan. So why is China so committed to the IMF? The

Former World Bank executive appointed Palestinian PM by Abbas

No, this is not a joke. The BBC just reported that Abbas appointed a new prime minister, Salam Fayyad, as Prime Minister of Fatah-controlled Palestine. The BBC helpfully adds that “a former World Bank executive, Mr Fayyad is a well-respected figure internationally” thereby using the code words indicating that this appointment has received the approval of Abbas’ bosses in the Imperial High Command. Wikipedia says that “he is seen as

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