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originally posted by: Peeple
a reply to: Reverbs
I don't know what to do, but I won't go down without a fight.
Maybe Putin? Is there a IMF in Russia?
The China-backed Asian Infrastructure Investment Bank seeks to address a critical infrastructure gap in the region, but it is also a challenge to the existing global economic order, says CFR’s Robert Kahn.
From this perspective, the AIIB—along with its companion BRICS bank [comprising Brazil, Russia, India, China, and South Africa]—is a challenge to the existing global economic order and a clear statement of intent from China that it desires to play a leading role in defining new rules of the game for investment in Asia.
In the fall of 2014, the U.S. government caught many by surprise when it made an aggressive and public effort to persuade countries not to join the Beijing-led institution. The United States clearly had concerns about the economic and political implications of a new multilateral lending agency led by China, and in any event, it was highly unlikely that the U.S. Congress would approve a financial contribution allowing the United States to participate. The Obama administration’s efforts led a number of countries to hold back from signing on the the AIIB
originally posted by: Reverbs
countries with less IMF control are known to you.. Syria, Iran, North Korea, Venezuela... I think you can see a picture painted.
originally posted by: paraphi
originally posted by: Reverbs
countries with less IMF control are known to you.. Syria, Iran, North Korea, Venezuela... I think you can see a picture painted.
These countries have "less control" because they have less voting rights as they are smaller.
There are a lot of myths over the IMF, including people who bend facts to make the narrative fit their world view.
Venezuela has not had official financial relations with either the IMF or the World Bank after it paid off its debt five years ahead of schedule under President Hugo Chávez.[4] The IMF and World Bank have stated their readiness to offer assistance if called upon.
WASHINGTON (Reuters) - North Korea has not sought membership in the International Monetary Fund and, if it does, it will be up to the global community to decide whether it should be able to join, IMF Managing Director Rodrigo de Rato said on Sunday.