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Sept 24, 2013

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IMF Stresses Lagarde NOT Call for Wealth Tax, Ignores Africa

By Matthew Russell Lee

UNITED NATIONS, October 24 -- That the International Monetary Fund under Christine Lagarde has devoted more and more of its members' money to Europe is one thing. But her IMF now won't even answer basic questions about other continents, most notably sub-Saharan Africa.

At Thursday's bi-weekly IMF press briefing, amid in-room questions about Ireland and Greece and Cyprus, Inner City Press, Inner City Press submitted two questions about Africa: Sudan and the Democratic Republic of the Congo.

On Sudan, after Managing Director Lagarde's meeting with Sudanese financial minister Abdel-Rasool, what steps if any have been taken regarding the country's debt, what are the prospects and issues?

On DR Congo, does Gecamines reportedly concealing its possible sale of its stake in Kamoto Copper Co. to Dan Gertler impact on the chances of the IMF reviving its $532M DRC program or starting a new one?

But despite multiple submissions, and a separate e-mail, these Africa questions were not even read out. Rather, repetitive questions about Europe, a question about Egyptian officials saying the IMF insulted that that was not answered, old Argentina questions (the IMF said it had "nothing fresh"), and a pointed clarification that the IMF is not, repeat not, recommending a wealth tax. Of course not!

That clarification was made electronically to deputy spokesperson William Murray. He said, my colleagues want me to make this clear. But the colleague did not highlight or allow the Africa questions.

Finally, just before the 10:30 embargo, on the DRC this came in:

Subject: RE: Question Received
From: ____ at IMF
Date: Thu, Oct 24, 2013 at 10:21 AM
To: Matthew Russell Lee [at]

Hi Matthew: Please find below the responses to your question on DRC. We’ll get back to you on Sudan.

· As we have already said, the Fund stands ready to start program negotiations with DRC if the authorities request it.

· Background: In May 2013 the authorities published an affidavit on the Comide transaction, paving the way for the reengagement of the IMF in a program context if the authorities request it.

The point is, now there is another Gecamines cover-up. That doens't change anything? Watch this site.


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