SDNY COURTHOUSE,
May 17 – When the
International Monetary Fund
held its biweekly embargoed
press briefing on May 6, Inner
City Press asked about unrest
(and tax hikes) in Colombia,
the coup in Myanmar, and a
program for Uganda. Interim
video here, IMF video and
transcript forthcoming.
Spokesperson Gerry Rice
responded on each, below.
Now on May 17, on
Kenya which while on the UN
Security Council has colluded
with the corruption
and censorship
of Antonio Guterres, this: "A
staff team from the
International Monetary Fund
(IMF) led by Mary Goodman
conducted a virtual mission to
Kenya from April 29 to May 14,
2021 to discuss progress on
reforms and the authorities’
policy priorities within the
context of the first review of
Kenya’s economic program
supported by the IMF’s EFF and
ECF arrangements. At the
conclusion of the mission, Ms.
Goodman issued the following
statement: “The IMF
staff team and the Kenyan
authorities have reached a
staff-level agreement on the
first review of Kenya’s
economic program under the
Extended Fund Facility (EFF)
and Extended Credit Facility
(ECF). The agreement is
subject to the approval of IMF
management and the Executive
Board in the coming weeks.
Upon completion of the
Executive Board review, Kenya
would have access to SDR 285
million (equivalent to about
US$410 million).
“As for
specific policies, the
authorities have taken strong
efforts to achieve their
planned deficit path in a
highly uncertain policymaking
environment. They met the
fiscal balance target at
end-March by a wide margin and
had fully implemented their
planned tax policy measures,
although with continuing
pressures from the pandemic,
tax revenue yields were
slightly below
expectations....
The team met with
Cabinet Secretary for the
National Treasury and
Planning, Mr. Ukur Yatani;
Governor of the Central Bank
of Kenya (CBK), Dr. Patrick
Njoroge; Deputy Chief of
Staff, Executive Office of the
President, Mrs. Ruth Kagia;
the Principal Secretary for
the National Treasury, Dr.
Julius Muia; Deputy Governor
of the CBK, Ms. Sheila
M’Mbijjewe; and other senior
government and CBK officials.
Staff also had productive
discussions with
representatives of the
Parliamentary Budget Office,
the private sector, civil
society organizations, and
development partners.”
On May 6 Inner
City Press asked, "Given
unrest in Colombia, is there
any updated IMF thinking on
the situation in the country,
since the April 28
announcement of Colombia's
qualification for the
arrangement under the Flexible
Credit Line?"
The IMF's
Rice among other things said
that while the IMF is watching
President Duque's moves,
Colombia is still eligible for
the FCL, due to its strong
economic fundamentals. Why the
tax hike on eggs and milk,
then?
Inner City Press
asked, On Myanmar can you
update us on IMF's contacts
with the regime and other
authorities, including those
seeking to be recognized?
Rice's
answer was that there was not
much new IMF news; he used the
word regime and expressed
concern.
Finally
Inner City Press asked, " On
Uganda, please confirm - and
if so, comment on -- reports
that Uganda is seeking at
least $900 million in a
three-year IMF program for its
budget amid rising spending
due to the Covid-19 pandemic."
Rice
confirmed that's the size of
the request, said things are
progressing with more still to
be ironed out. The size will
be up to the IMF Board.
Back
on March 11 in a question
Inner City Press, given what
it has reported on for the
past three days was compelled
to ask, it sent and asked, "On
Honduras, given mounting
evidence including in the
trial of Geovanny
Fuentes-Ramirez that high
government officials are
implicated in
narco-trafficking, what are
the IMF's comments on current
programs and safeguards in
place?"
As noted,
Spokesperson Rice said that
IMF does not comment on
(pending) judicial
proceedings. At least he took
the question.
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.
***
Your
support means a lot. As little as $5 a month
helps keep us going and grants you access to
exclusive bonus material on our Patreon
page. Click
here to become a patron.
Feedback:
Editorial [at] innercitypress.com
SDNY Press Room 480, front cubicle
500 Pearl Street, NY NY 10007 USA
Mail: Box 20047, Dag
Hammarskjold Station NY NY 10017
Reporter's mobile (and weekends):
718-716-3540
Other, earlier Inner City Press are
listed here,
and some are available in the ProQuest
service, and now on Lexis-Nexis.
Copyright 2006-2021 Inner City
Press, Inc. To request reprint or other
permission, e-contact Editorial [at]
innercitypress.com
,
