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La anatomía de la deuda global by Howard Davies - Project Syndicate
Por primera vez, los estadísticos del FMI han compilado un conjunto integral de cálculos tanto de la deuda pública como de la privada, país por país, en una serie temporal que se remonta a fines de la Segunda Guerra Mundial.

En algunos países, la composición de la deuda cambió, ya que la deuda pública reemplazó a la deuda privada en la recesión post-crisis, pero ese cambio ahora prácticamente se interrumpió.

En un momento en que el crecimiento económico es robusto en casi todas partes, los mercados financieros están relajados en lo que respecta a la sustentabilidad de la deuda.

Pero los números efectivamente tienden a respaldar la hipótesis de que la llamada intensidad de deuda del crecimiento ha aumentado: parece que necesitamos mayores niveles de deuda que antes para respaldar una determinada tasa de crecimiento económico.

La idea es que los reguladores puedan "Apoyarse en el viento" de las expansiones excesivas del crédito, aumentando la cantidad de capital que debe tener un banco, con el objetivo de atenuar la oferta de crédito antes de que alcance un nivel peligroso.
banking  crisis  economics  EZ  IMF  UK  USA  monetary_policy 
12 days ago by david.garciahz
Twitter
A few months ago, the posted an article about the transformation of money. This image accompanied it & we thou…
IMF  from twitter_favs
21 days ago by randyhilarski
.@accessnow Letter to IMF Managing Director Christine Lagarde on possible breach of Cameroon loan term
In response to the Cameroon government's decision in 2017 to shut down internet access for months in the country's primarily Anglophone-inhabited regions, Access Now - along with Internet Sans Frontières and the University of Southern California School of Law International Human Rights Clinic - sent a letter this week to the International Monetary Fund (IMF)'s Managing Director Christine Lagarde, arguing that the shutdown constituted a violation of the terms of an IMF loan to the country. Under the loan's terms, Cameroon was supposed to inform IMF of "[a]ny decision, decree, law, order or circular having economic or financial implications, from its publication date or effective date," which they allegedly did not do following the internet shutdown.

The letter reads, in part: "In at least two instances in 2017, one from January to April[6] (prior to the conclusion of the loan) and one beginning in October (after the conclusion of the loan), the Government of Cameroon shut or slowed down internet services in certain regions of the country...Internet access in the affected Anglophone regions has continued to be intermittently unavailable and problematically slowed or ineffective through 2018. We have not been able to locate information indicating that Cameroon reported these violations to the IMF and/or sought approval for these internet shutdowns...The result is that the Government’s unlawful interference with internet freedom has had a debilitating effect on the economy, affecting not only media companies but also businesses, as they are dependent upon internet for transactions and operations. A conservative estimate of the economic harm done places it at $3.2 million,[10] while others estimate that the costs may have been as high as $38.8 million...We understand that the IMF’s next review of Cameroon’s compliance with the terms of the loan is expected to be completed by 30 June 2018. We therefore respectfully request that the IMF ensure that Cameroon has complied with the terms of its loan by fully and accurately reporting '[a]ny decision, decree, law, order or circular having economic or financial implications, from its publication date or effective date.'"
otf  cameroon  africa  shutdown  access  blackout  imf 
6 weeks ago by dmcdev
Financial Globalisation Has Been a Disaster. Brexit Gives Us a Chance to Resist It | Novara Media
The left was right to campaign against leaving the EU in 2016. Based on the tenor of the campaign, it was clear the Leave campaign would embolden the xenophobes and nationalists that exist across the class spectrum in the UK. This prediction was proven chillingly correct with both the spike in hate crime that followed the referendum and the movement that has emerged around Tommy Robinson over the last few weeks. The left should deplore and, if necessary, physically resist such acts of violent racism.

But fighting fascism does not mean accepting globalisation. The fact is, working class people are right to be pissed off about global economic and financial integration – especially those in the places that have been most ravaged by it. Financial globalisation has led to the concentration of capital in a series of financial entrepots, more integrated into the global economy than they are with their own countries. Rather than using this capital for productive investment, these centres have repurposed it for the kind of financial wizardry that caused the 2008 crash. London is in many ways the global financial hub par excellence, with the City of London the vampire squid sucking on the face of the global economy.

The left should be making a case for Brexit that involves resisting financial globalisation, whilst welcoming immigrants from the parts of the world that have been most ravaged by both colonialism and free market neocolonialism.
finance  economics  politics  globalisation  financialisation  neoliberalism  anti-globalisation  IMF  WTO  protest  activism  StiglitzJoseph  KrugmanPaul  TheLeft  France  nationalisation  Greece  Italy  EU  Euro  singleMarket  UK  Brexit  referendum  campaigning  immigration  intervention  economy  dctagged  dc:creator=BlakeleyGrace 
7 weeks ago by petej
Jordan’s Austerity Protests in Context - Atlantic Council, June 12,2018
Today’s protesters are diverse in terms of region, ethnicity, and class, with a professional middle-class maintaining the lead in the movement. Jordan is commonly seen as divided between two major constituencies: East Bank or nationalist, portrayed as constituents loyal to the monarch; and the majority Palestinian population. This binary characterization of the citizenry does bring into focus one large cleavage in the country, but it also obscures other tensions and dynamics of domestic politics, particularly concerning class.

Most significantly, the supposedly loyal and tribal areas—often portrayed as the regime’s primary base—do largely support the monarchy. But they do so because the monarchy has long advanced their economic interests and political influence while presenting a bulwark against the potential political influence on national politics of the majority Palestinian population. It is a bargain—support in exchange for economic favoritism—that is not set in stone, and indeed the regime has had to work to maintain it
Jordan  IMF  reforms  Protests 
8 weeks ago by elizrael

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