IMF

[winston]

China said that the Head of the IMF should be made thru a DEMOCRACTIC process

[kennynah]

tharman supposedly solid, right? ask him to stand for elections lah...

mai chio si lang man... these pap people are the true 老"皇"卖瓜, 自卖自夸..

[winston]

While billions are living in poverty, we have time, money and energy to engage in this sort of global charm offensive ...


Lagarde arrives in China on IMF tour by Boris Cambreleng

French finance minister Christine Lagarde arrived in China on Wednesday as she pursues a global charm offensive trying to persuade sceptical emerging countries to back her bid to lead the IMF.

Source: AFP

[kennynah]

i thought the Chinese want their own man/woman to helm IMF? if so, why would they support lagarde?

[winston]

What is the IMF and what are they saying about the state of the global economy?

The International Monetary Fund (IMF) was created at the end of World War II in order to prevent economic crisis like the Great Depression. It is a specialized agency of the United Nations and with the World Bank it is the largest public lender in the world.

The IMF oversees the global financial system and its goal is to help keep the world’s economic system stable. The IMF describes itself as “an organization of 187 countries (as of July 2010), working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty.”

This organization is funded from quota subscriptions paid by member states. The size of each quota is determined by how much each government can pay according to the size of its economy. The quota in turn determines the weight each country has within the IMF as well as how much financing it can receive from the IMF.

The United States is the largest contributor to the IMF at 17.09%, followed by Japan at 6.12%, Germany at 5.98% and France and Britain at 4.94% each.

Source: thestockenthusiast.com

[winston]

China-Based Spies Said to Be Behind Hacking of IMF Computers By Michael Riley and Sandrine Rastello

Investigators probing the recent ransacking of International Monetary Fund computers have concluded the attack was carried out by cyber spies connected to China, according to two people close to the investigation.

Computer specialists have spent several weeks piecing together information about the attack, which the IMF disclosed on June 8. Internal IMF e-mails obtained by Bloomberg News suggest fund officials completed an inventory of stolen documents by the middle of July, and drafted an “operational impact assessment.” The results have not been made public.

Evidence pointing to China includes an analysis of the attack methods, as well as the electronic trail left by hackers as they removed large quantities of documents from the IMF’s computers.

The multistaged attack, which used U.S.-based servers as part of their equipment, ended on May 31, people involved in the investigation said on the condition they not be identified because they aren’t authorized to speak about it.

http://www.bloomberg.com/news/2011-07-2 ... uters.html

[winston]

Strauss-Kahn to walk free as sex case collapses by Sebastian Smith

Dominique Strauss-Kahn is set to walk free on Tuesday after New York prosecutors said that while the powerful Frenchman did have sex with his hotel maid, they could not prove an assault because the alleged victim's lies undermined the case beyond repair.

The 25-page motion to drop the case concluded that Strauss-Kahn engaged in a hurried sex act May 14 with the Manhattan maid, a Guinean immigrant called Nafissatou Diallo, and that the initial investigation suggested an assault.

DNA testing "established that several stains located on the upper portion of the complainant's hotel uniform dress contained semen that yielded the defendant's DNA," the Manhattan District Attorney's Office said in the motion.

Evidence was "consistent with a non-consensual encounter," prosecutors said.

The evidence was not conclusive. For example, there were no injuries or damage to clothing that could only have come from attempted rape.

However, other factors, such as the hurried nature, suggested "that the sexual act was not likely a product of a consensual encounter," the motion said.

Another important piece of evidence was the discovery of Strauss-Kahn's DNA "on both the interior and exterior waistband" of the tights worn by the maid, "as well as on the waistband of the panties."

But in the end, the evidence did not "prove or corroborate that their encounter was forcible or non-consensual."

That meant Diallo's testimony was key to the case -- and when it emerged that she had lied to investigators and to the grand jury indicting Strauss-Kahn, the case became impossible to pursue.

Thompson accused Vance of having "turned his back" on forensic, medical and other physical evidence.

Source: AFP Global Edition

http://www.newsmeat.com/news/meat.php?a ... &buid=3281

[kennynah]

very few people will ever know what really transpired...

what do you think?

did he or did he not?

[winston]

With only US$630b, they want to save the global financial system, from collapsing ?

China's central bank chief, Zhou Xiaochuan, warned that the IMF, which currently has about $630 billion in financial resources, may not have enough money to help needy countries amid turmoil sparked by the advanced economies.

Source: Reuters

[winston]

IMF Likely To Expand Resources To $1.3 Trillion: Report

The International Monetary Fund may consider expanding its financial resources to $1.3 trillion to fight the debt crisis, that now threatens to engulf the entire Eurozone, German daily Frankfurter Allgemeine Zeitung (FAZ) reported Monday

http://www.rttnews.com/ArticleView.aspx?Id=1720870