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IMF Answered Inner City Press on COVID-19 Theft in Cameroon Now Hands Biya $690M

By Matthew Russell Lee, Patreon Video
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SDNY COURTHOUSE, July 15 – When the International Monetary Fund held its biweekly embargoed press briefing on July 15, Inner City Press asked about crypto-currency legislation in Paraguay and again El Salvador, about the assassination in Haiti and COVID-19 lack of transparency in Cameroon. IMF video and transcript forthcoming.  Spokesperson Gerry Rice responded on each. Short video on Twitter here; YouTube here.

Now on July 29 on Cameroon, this: " On July 29, the Executive Board of the International Monetary Fund (IMF) approved three-year arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) for Cameroon for SDR 483 million (about US$ 689.5 million, or 175 percent of Cameroon’s quota) to support the country’s economic and financial reform program.  Approval of the ECF/EFF enables immediate disbursement of about US$ 177.2 million, usable for budget support. This follows Fund emergency support to Cameroon under the Rapid Credit Facility (RCF) totaling SDR 276 million, about US$ 382 million or 100 percent of Cameroon’s quota (see IMF Press Release No. 20/205 and IMF Press Release No. 20/318).  Cameroon faces significant development challenges heightened by the pandemic. An upsurge in COVID-19 cases since January 2021, has raised concerns about growth prospects and the external and fiscal positions. Additionally, security risks in parts of the country persist." Yes, Biya's slaughter in Ambazonia, on which the UN refuses to answer Inner City Press, which it has banned 1223 days for asking.

Inner City Press on Cameroon asked the IMF, among other things, if there was any meat on the bones of calls for transparency, giving the missing COVID-19 money. Rice said the IMF had met with the women leaders who wrote to it, and that a third RCF facility will be considered by the IMF Board in the coming weeks. Watch this site.

Watch this site.

Back on January 8 Inner City Press asked the IMF's Helge Berger, Mission Chief, about China's so-called Belt and Road Initiative: "Your Article IV report cites China's "overseas lending projects" amid "rising geopolitical tensions and economic and trade frictions." How does the IMF think that rising debt levels among African countries, and increased skepticism about the "Belt and Road" will impact or be addressed going forward? -Matthew Russell Lee, Inner City Press. Video here.




(An aside: Inner City Press has reported on the CEFC China Energy Fund Committee's activities in Chad and Uganda and in the UN, on which the UN is UNresponsive.)

Other questions included China's digital currency (Inner City Press also reports on crypto-currency cases in the U.S. District Court for the Southern District of New York and elsewhere). Berger said when used overseas an issue is that residents could start using another country's currency, if it is easier.

We'll have more on this.

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