The International Monetary Fund faces charges of politicization bow

Date: Wednesday, 16-12-15 11:50 pm

Continue/Baghdad newsletter
Issue politicization charges this time for Russia, which has waged a campaign of extreme violence
Against the International Monetary Fund, has warned that confidence in financial institution "seriously undermined".

What outraged Moscow the International Monetary Fund's decision to abandon the internal database was prohibiting him to provide financial assistance to the State stalled in reimbursement to another State.

This action, which seems superficially a technical change to privilege, will allow the Fund to maintain the assistance scheme, which was granted in March to Ukraine after Kiev refused to pay threatened $ 3 billion worth of Moscow a few days later.

And Russian Prime Minister Dmitry Medvedev and expressed his dismay that "the International Monetary Fund adopted for the first time in its history a decision intended to support state borrowing in contravention of existing agreements, just for political reasons."
Russian Finance Minister warned Anton siloanov that the decision "has raised questions about the neutrality of the Organization, referring to the lack of Fund foundations" should be modified only after prolonged study. "

The International Monetary Fund responded to these charges indirectly, one responsibility of Hugh bridenkmb, revealing the details of the new rule, that "the need for this reform has been evident for some time." This amendment was necessary to prevent the Fund plans to be "encumbered" by refusing to renegotiate the country's debt.

He stressed that the International Monetary Fund to examine this issue in the report dates back to may 2013 "before they even give Russia a loan to Ukraine. But the timetable for the decision raises questions. He said former Italian representative on the Board of Directors of the International Monetary Fund Andrea montanino "move on the issue was positive, but the timing is not good." "It was a mistake to do so hastily and that's what gives the impression that it was just a circumstantial decision."

It was the Westerners who dominate the decision bodies of the International Monetary Fund for several months seeking to circumvent the Russian refusal to resume negotiation in this religion. A senior European official said "we will find a way". Does the Fund bows to pressure from key shareholders Europeans and Americans?, some experts felt that the issue is not that easy.

He said Domenico Lombardi, a former member of the Fund that the International Monetary Fund take appropriate opportunity to fill a legal vacuum. " He explained that the financial institution has made the dispute between Russia and Ukraine "an incentive to promote consensus among Member States on the reform is necessary in the work of the Fund, which provides aid to countries facing crises meet savings and austerity measures. However, this is not the first time that the Fund finds itself in the dock.

The Foundation has already raised dissatisfaction with altered its rules in 2010 to provide more loans to Greece under the slogan "a threat to move the whole system" under pressure from the Europeans.

The Fund also decided finally in the end of November the annexation of Chinese Yuan to his currencies basket Chairperson recognized as a reserve currency alongside the dollar and the pound sterling, Japanese yen and euro. Decision was welcomed, and some experts see it as a gesture toward Beijing.

Montanino said "that was a good decision, but obviously political. It should send a signal to China, which does not have much weight in the International Monetary Fund. The Fund denied categorically stressed that the decision "technician". However, answering the question of whether purely artistic Foundation Fund or a political tool remains very difficult, no doubt about that fact. Lombardi said that "the IMF is a political institution that makes decisions on a technical basis," adding that "things are either black or white, there is a margin of interpretation."