{"id":86987,"date":"2022-04-21T13:29:17","date_gmt":"2022-04-21T17:29:17","guid":{"rendered":"https:\/\/schillerinstitute.com\/?p=86987"},"modified":"2022-04-21T13:29:21","modified_gmt":"2022-04-21T17:29:21","slug":"imf-meeting-gets-underway-under-the-gathering-clouds-of-growing-world-famine","status":"publish","type":"post","link":"https:\/\/schillerinstitute.com\/es\/blog\/2022\/04\/21\/imf-meeting-gets-underway-under-the-gathering-clouds-of-growing-world-famine\/","title":{"rendered":"IMF Meeting Gets Underway, Under the Gathering Clouds of Growing World Famine"},"content":{"rendered":"\n<p class=\"has-medium-font-size wp-block-paragraph\"><strong>IMF Meeting Gets Underway, Under the Gathering Clouds of Growing World Famine<\/strong>&#8212;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">April 20 (EIRNS) &#8212; IMF managing director Kristalina Georgieva warned in her opening remarks at the IMF\/World Bank spring meetings that began today in Washington, D.C., that the world is facing a \u00abdouble crisis\u00bb: the pandemic, and now the war in Ukraine and related economic destruction. She stated that \u00abrising food and fuel prices are straining the budgets of ordinary families to the breaking point,\u00bb and that this is particularly concerning in poor countries where there is a growing risk of a food crisis. She of course blamed Russia for most of the problem.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Georgieva also expressed concern as to what will happen as central banks tighten their monetary policies by ending QE and raising interest rates, and urged them to be \u00abmindful of spillover risks to vulnerable emerging and developing economies.\u00bb Given their already high level of indebtedness, rising interest rates will place 60 percent of low-income countries at or near debt distress, she reported.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That is true enough. So, what does the IMF recommend be done? \u00abTo address debt, countries need domestic policies that can help bring their budgets back on track\u00bb \u2013 in other words, the neoliberal \u00abstructural reform\u00bb austerity policies that created the problem in the first place.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">U.S. Treasury Secretary Janet Yellen\u2019s approach is to throw oil on the fire. According to comments by a Treasury Department official on April 18, Yellen is going to tell her colleagues at the IMF meeting that they should help \u00abramp up the economic pain on Moscow\u2026 The secretary will also underscore our shared resolve to hold Russia accountable.\u00bb She\u2019s also planning to boycott any meetings that the Russians attend.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While Yellen was bashing Russia, her Deputy Treasury Secretary Wally Adeyemo attacked China. \u00abChina has in the past &#8212; and we expect them to continue to follow &#8212; the sanctions regimes that have been introduced by us and the coalition\u00bb of sanctioning countries, Adeyemo said at the Peterson Institute for International Economics. \u00abChina&#8217;s business with the rest of the world is greater than its business with Russia,\u00bb he threatened.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IMF Meeting Gets Underway, Under the Gathering Clouds of Growing World Famine&#8212; April 20 (EIRNS) &#8212; IMF managing director Kristalina Georgieva warned in her opening remarks at the IMF\/World Bank spring meetings that began today in Washington, D.C., that the world is facing a \u00abdouble crisis\u00bb: the pandemic, and now the war in Ukraine and [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":86988,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[520,31,642,505,632,742,33],"tags":[842],"class_list":["post-86987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-updates-development","category-updates-environmentalism","category-finance","category-updates","category-green-new-deal","category-sanctions","category-updates-war","tag-lang-en"],"_links":{"self":[{"href":"https:\/\/schillerinstitute.com\/es\/wp-json\/wp\/v2\/posts\/86987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/schillerinstitute.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/schillerinstitute.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/schillerinstitute.com\/es\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/schillerinstitute.com\/es\/wp-json\/wp\/v2\/comments?post=86987"}],"version-history":[{"count":2,"href":"https:\/\/schillerinstitute.com\/es\/wp-json\/wp\/v2\/posts\/86987\/revisions"}],"predecessor-version":[{"id":86999,"href":"https:\/\/schillerinstitute.com\/es\/wp-json\/wp\/v2\/posts\/86987\/revisions\/86999"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/schillerinstitute.com\/es\/wp-json\/wp\/v2\/media\/86988"}],"wp:attachment":[{"href":"https:\/\/schillerinstitute.com\/es\/wp-json\/wp\/v2\/media?parent=86987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/schillerinstitute.com\/es\/wp-json\/wp\/v2\/categories?post=86987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/schillerinstitute.com\/es\/wp-json\/wp\/v2\/tags?post=86987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}