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Video: ‘Powerful stakeholders subordinate IMF for their own political agendas’ – IMF Executive Director
French minister says IMF boss Christine Lagarde ‘must resign’ if charged with fraud, embezzlement...
French authorities are searching the home of IMF Chief Christine Largarde over a probe into a million-dollar payout to a supporter of ex-President Sarkozy. Lagarde has been under investigation since 2011, but denies any wrongdoing.
Lagarde’s lawyer told to Reuters that the search would exonerate her client of all criminal responsibility in connection with the Tapie affair.
"This search will help uncover the truth, which will contribute to exonerating my client from any criminal wrongdoing," Lagarde's lawyer, Yves Repiquet, told Reuters.
Police are investigating allegations that Lagarde acted illegally as finance minister in 2008 when she approved a payout of 285 million euro ($367 million) to business mogul Bernard Tapie.
The Court of Justice of the Republic ordered a probe into the case under the suspicion that Lagarde had committed an abuse of power by releasing the funds to Tapie. The then socialist opposition alleged that Nicolas Sarkozy’s government was rewarding the businessman Tapie for his support during the 2007 elections.
DETAILS TO FOLLOW.
International Monetary Fund (IMF) Managing Director Christine Lagarde attends a session of the World Economic Forum Annual Meeting (WEF) on January 26, 2013 at the Swiss resort of Davos.(AFP Photo / Johannes Eisele)
The International Monetary Fund (IMF) has issued Argentina with a 'declaration of censure' for providing inaccurate inflation and GDP data and has given it until September 29th to amend the problems or will impose sanctions.
The IMF Friday called on Argentina to fix its statistics “without further delay”
“The fund has issued a declaration of censure against Argentina in connection with its breach of obligation to the fund,” The IMF said in a statement.
The IMF said it would review Argentina’s progress in November and warned that if the problems are not sorted then it could impose sanctions on the country. This would bar one of South America’s biggest economies from voting on IMF policies and accessing financing.
Relations between the South American country and the IMF have been steadily deteriorating since Argentina’s 2001-2002 debt crisis, which many in Buenos Aires blame on IMF policies.
Argentina’s Economy Ministry slammed the IMF for unfair treatment and accused them of double standards.
The Friday declaration was “not only a new IMF error but a clear example of unequal treatment and the double standards with which this organization treats certain members. This is the same fund that showed itself to be complacent about the inexact data and failed policies that led to the global financial crisis,” the statement said.
The ministry pointed out the IMF hailed Argentinian economic policies of the 1990’s as a success, the same policies that resulted in Argentina’s economic meltdown and debt default. The ministry also asked for an extraordinary meeting of the IMF board to discuss the lender’s decisions and policy.
Christine Lagarde, the IMF Managing Director, warned Argentina in September last year that it could be penalized unless it sorted out its data problems. Previous IMF chiefs, including Dominque Strauss-Khan and Rodrigo Rato, unsuccessfully tried to mend ties with Argentina, while other officials have avoided commenting on the country.
Economic analysts have accused the government in Buenos Aires of underreporting inflation since 2007 in order to reduce payments on inflation indexed debt and for political gain.
Inflation in Argentina is estimated by private economists to be at 25% a year and rising but the government reported it at 11% or less for last year, according to the Financial Times.
“This is a very serious step by the IMF, the situation in Argentina is deteriorating very quickly…and there is no sign that the government has any interest or willingness to even try to address some of the basic concerns of the fund,” Biorden Roett, director of Western Hemisphere Studies at John Hopkins’ Paul H Bitze School of Advanced International Studies in Washington told Reuters.
The International Monetary Fund (IMF) has cut its forecast for UK growth for both this year and the next, blowing hopes for a quick recovery to the country’s ailing economy.
The IMF said Britain would grow only by 1 percent this year which is lower than its October forecast of 1.1 percent and also the official government forecast of 1.2 percent.
Moreover, the IMF said the country would grow by 1.9 percent next year, a 0.3 percentage point cut compared with October.
The IMF figures are another setback for British Chancellor George Osborne; whose policies have put the country’s privileged AAA credit status under significant pressure.
The recent figures underlined the country’s sluggish recovery just days ahead of the official growth figures for 2012.
The Office for National Statistics (ONS) is expected to reveal that the economy contracted by between 0.1 percent and 0.3 percent in the three months to December, causing the economy for the year as a whole to shrink by 0.1 percent.
Sweat Shops, GMOs and Neoliberal Fundamentalism: The Agroecological Alternative to Global Capitalism
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Gates Foundation’s “Corporate Merry-go-round”: Spearheading the Neo-liberal Plunder of African Agriculture
It amounts to little more than the start of the US colonisation of Ukraine’s seed and agriculture sector. This corporate power grab will be assisted by local banks. Oriental Review says they will only offer favourable credit terms to those farmers who agree to use certified herbicides: those that are manufactured by Monsanto.
"We are here at the [US-Canadian] border to demonstrate the global solidarity of farmers in the face of globalization. The corporate takeover of agriculture has impoverished farmers, starved communities and force-fed us genetically-engineered crops, only to line the pockets of a handful of multinational corporations like Monsanto at the expense of farmers who are struggling for land and livelihood around the world."
You can also add to that ten million, countless others whose lives have been sacrificed on the altar of corporate profit, which did not rely on the military to bomb peoples and countries into submission but on the IMF, World Bank and WTO. It begs the question how many lives have been cut short across the world because of the inherent structural violence or silent killing of the everyday functioning of predatory capitalism?
Peddling their high salaried deceptions, they have failed and continue to fail the public and genuinely hold power to account. By shining their ‘investigative’ light on ‘parliamentary procedures’, personalities, the rubber stamping of policies and the inane machinations of party politics, they merely serve to maintain and perpetuate the status quo and keep the public in the dark as to the unaccountable self-serving nature of power broking and the unity ofinterests that enable Big Oil, Big Finance, Big Pharma, Big Agra and the rest of them via their secretive think tanks and policy initiatives to keep bleeding us all dry.
But that’s the role of the media: to help reinforce and reproduce the material conditions of a divisive social system on a daily basis. It’s called having a compliant, toothless media. It’s what the corporate media itself calls part of ‘liberal democracy’. And in this type of 'liberal democracy', it is people like Edward Snowden or Julian Assange who expose the wrongdoings of the political-corporate elites that are hounded.
MI5 targeted labour correspondents in both newspapers and broadcasting right up to the 80s; they were recruited in droves for their contacts with a wide range of trade union officials and with each other. According to Peter Wright, MI5 always had about twenty senior journalists working for it in the national press. “They were not employed directly by us, but we regarded them as agents because they were happy to be associated with us.”
At the BBC, Brigadier Ronald Stonham liaised with MI5 and Special Branch and advised the corporation on whether or not to employ people. Names of applicants for editorial posts in the BBC were similarly ‘vetted’ by MI5.
“There should be times when the journalist, when he’s examined all the facts and tested all his sources, should come down on the side of the government of the day, the established order and the Establishment as a whole.” - Chairman of the Radio Authority
“We are in a period of considerable social change. There may be social unrest, but we can cope with the Toxteths… but if we have a highly-educated and idle population, we may possibly anticipate more serious conflict. People must be educated to once more know their place.” – from a secret Department of Education Report.
(all links are in italics)
“It’s scandalous that UK aid money is being used to carve up Africa in the interests of big business. This is the exact opposite of what is needed, which is support to small-scale farmers and fairer distribution of land and resources to give African countries more control over their food systems. Africa can produce enough food to feed its people. The problem is that our food system is geared to the luxury tastes of the richest, not the needs of ordinary people. Here the British government is using aid money to make the problem even worse.”
“This is an extension of what the Gates Foundation has been doing for several years – working with the US government and agribusiness giants like Monsanto to corporatize Africa’s genetic riches for the benefit of outsiders. Don’t Bill and Melinda realize that such colonialism is no longer in fashion? It’s time to support African farmers’ self-determination.”
“Greenpeace notably decides its opinions must prevail regardless of others, so it arrogates to itself the right to tear up and destroy things it doesn’t like. That is absolutely typical of people who are unable to convince others by debate and discussion and in the last century such attitudes, amplified obviously, ended up killing people that others did not like. But the same personality type the authoritarian, ‘do as I tell you’, was at the root of it all. Such groups therefore sit uneasily with countries that are democracies.”
“It would be nice if you could say you are a democrat and believe that argument is better than destruction but argument that deals with all the facts and does not select out of those to construct a misleading programme. Misleading selection of limited information is causing considerable problems in various parts of the world that leads some into very violent behaviour, particularly in religious belief. I am sure you agree that this is not a good way forward… Whatever their [farmers’] choice is… they must be allowed to make that decision… That is the nature of every democracy that I hope all will finally live under?”
“Anyone who’s seen the recent virally circulated Venn diagrams of the personnel overlap between Monsanto and USDA personnel, or Pfizer and FDA, will immediately know what I’m talking about… A model of capitalism in which the commanding heights of the economy are an interlocking directorate of large corporations and government agencies, a major share of the total operating costs of the dominant firms are socialized (and profits privatized, of course), and “intellectual property” protectionism and other regulatory cartels allow bureaucratic corporate dinosaurs… to operate profitably without fear of competition." Kevin Carson, Center for a Stateless Society.
According to Mathew Holehouse in the UK’s Telegraph newspaper (here), former UK Environment Minister Owen Paterson will this week accuse the European Union and Greenpeace of condemning people in the developing world to death by refusing to accept genetically modified crops. Speaking in Pretoria, South Africa, on Tuesday, Paterson will warn that a food revolution that could save Africa from hunger is being held back and that the world is on the cusp of a green revolution, of the kind that fed a billion people in the 1960s and 1970s as the world’s population soared.
"This is also a time, however, of great mischief, in which many individuals and even governments are turning their backs on progress. Not since the original Luddites smashed cotton mill machinery in early 19th century England, have we seen such an organised, fanatical antagonism to progress and science. These enemies of the Green Revolution call themselves ‘progressive’, but their agenda could hardly be more backward-looking and regressive… their policies would condemn billions to hunger, poverty and underdevelopment. And their insistence on mandating primitive, inefficient farming techniques would decimate the earth’s remaining wild spaces, devastate species and biodiversity, and leave our natural ecology poorer as a result.”
“We don’t have a goal of developing GM products here or to import them. We can feed ourselves with normal, common, not genetically modified products. If the Americans like to eat such products, let them eat them. We don’t need to do that; we have enough space and opportunities to produce organic food.” (see here)
“We strongly object that the image of the poor and hungry from our countries is being used by giant multinational corporations to push a technology that is neither safe, environmentally friendly nor economically beneficial to us. We do not believe that such companies or gene technologies will help our farmers to produce the food that is needed in the 21st century. On the contrary, we think it will destroy the diversity, the local knowledge and the sustainable agricultural systems that our farmers have developed for millennia, and that it will thus undermine our capacity to feed ourselves.”
“… the statements that they [supporters of GMOs] use such as “thousands die of hunger daily in India” are irresponsible and baseless scare-mongering with a view to projecting GM as the only answer. When our people go hungry, or suffer from malnutrition, it is not for lack of food, it is because their right to safe and nutritious food that is culturally connected has been blocked. That is why it is not a technological fix problem and GM has no place in it.”
“The problem is that the poor have no money to buy food and increasingly, no access to land on which to grow it… GM is a dangerous distraction from real solutions and claims that GM can help feed the world can be viewed as exploitation of the suffering of the hungry. GM crops do not increase yield. Nor are there any GM crops that are better than non-GM crops at tolerating poor soils or challenging climate conditions. Thus it is difficult to see how GM can contribute to solving world hunger… The two major GM crops, soy and maize, mostly go into animal feed for intensive livestock operations, biofuels to power cars, and processed human food – products for wealthy nations that have nothing to do with meeting the basic food needs of the poor and hungry.”
"In the morning, you make porridge from maize and send the kids to school. For lunch, boiled maize and a few green beans. In the evening, ugali, [a staple dough-like maize dish, served with meat]… [today] it’s a monoculture diet, being driven by the food system – it’s an injustice.” (see here and here for the sources that quote Maingi and other commentators mentioned below).
“It’s a system designed to benefit agribusinesses and not small-scale farmers.”
“What the World Bank has done, the International Monetary fund, what AGRA and Bill Gates are doing, it’s actually pretty wrong. The farmer himself should not be starving”.
“… take capitalism and business out of farming in Africa. The West should invest in indigenous knowledge and agro-ecology, education and infrastructure and stand in solidarity with the food sovereignty movement.” Daniel Maingi, Growth Partners for Africa.
“The “economic therapy” imposed under IMF-World Bank jurisdiction is in large part responsible for triggering famine and social devastation in Ethiopia and the rest of sub-Saharan Africa, wreaking the peasant economy and impoverishing millions of people. With the complicity of branches of the US government, it has also opened the door for the appropriation of traditional seeds and landraces by US biotech corporations, which behind the scenes have been peddling the adoption of their own genetically modified seeds under the disguise of emergency aid and famine relief. Moreover, under WTO rules, the agri-biotech conglomerates can manipulate market forces to their advantage as well as exact royalties from farmers. The WTO provides legitimacy to the food giants to dismantle State programmes including emergency grain stocks, seed banks, extension services and agricultural credit, etc.), plunder peasant economies and trigger the outbreak of periodic famines.” See the full article (‘Sowing the Seeds of Famine in Ethiopia’) from which this extract is taken here.