MercoPress. South Atlantic News Agency
Brazil slams US and Europe for delaying promised reforms in the IMF
Brazil’s Finance Minister Guido Mantega slammed the United States and Europe for repeatedly delaying reforms of their dominated shareholding and voting power in the International Monetary Fund (IMF). Read full article
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Disclaimer & comment rulesThe postponements are stopping emerging economic powers like China, Russia, India and Brazil from getting greater say in IMF affairs through increased quotas.
Apr 20th, 2013 - 12:27 pm - Link - Report abuse 0No kidding.
and
Don't hold your breath
We don't really want the inmates running the asylum now do we?
I don't understand where this guy is coming from. Example: The USA has a quota of 42,122.4 million SDRs, 17.69% of the total, reflecting how much money it makes available. As a result, it has 421,961 votes, 16.75% of the total. By contrast, Brazil has a quota of 4,250.5 million SDRs, 1.79% of the total. It has 43,242 votes or 1.72% of the total. Does he think that Brazil should have more votes without making more money available? A quick look shows that, out of the “top” 21 countries, the USA and European countries make 43.31% of the funds available. and they have 41.92% of the votes. Seems more than fair.
Apr 20th, 2013 - 01:17 pm - Link - Report abuse 03. What they are trying to do is get the USA UK EU to give up shares to split between the BRIC countries.
Apr 20th, 2013 - 02:04 pm - Link - Report abuse 0It isn't going to happen
Thank goodness for the US Congress checking the office of the Prez
Brasil have 24 billions US dollars in FMI. And have 1,72% votes power. If no more power votes, i think Brasil get out with 20 billions from FMI. And Brasil represent more ten countries (Portuguese Comunity Countries Language).
Apr 20th, 2013 - 02:37 pm - Link - Report abuse 04. Nobody cares if Brazil leaves so it is not a threat. Maybe they should fund the (UNASUR) Bank fo the South with the U$ they pull out of IMF.
Apr 20th, 2013 - 03:15 pm - Link - Report abuse 0They can have the majority votes there..
and let Argentina borrow most of it
doesn't that sound like somewhere you'd want to invest?
bahahaha
Ok. We kows when disliked us!
Apr 20th, 2013 - 03:19 pm - Link - Report abuse 0Comment removed by the editor.
Apr 20th, 2013 - 03:37 pm - Link - Report abuse 0Comment removed by the editor.
Apr 20th, 2013 - 03:41 pm - Link - Report abuse 0Comment removed by the editor.
Apr 20th, 2013 - 03:47 pm - Link - Report abuse 0Brazil should pull out of IMF. They will never get more influence other than the promise of influence.
Apr 20th, 2013 - 03:48 pm - Link - Report abuse 0They have options though. A BRIC bank or finally sign the Banco do Sul.
All three options are good though. A win-win or Brazil.
Comment removed by the editor.
Apr 20th, 2013 - 03:49 pm - Link - Report abuse 010 - I don't think Brazil will put out of the IMF, but it certainly has that as a plausible option. Banco do Sul is going a little bit slow, but I believe the BRIC bank truly will take off soon. It's good to remind some people here that today Brazil is the USA's 4th biggest creditor. Funny how a few years ago the situation was completely different!
Apr 20th, 2013 - 04:20 pm - Link - Report abuse 011 - Viva o Brasil! Viva o Paraná! Viva a América do Sul! :)
I doubt any educated American is unaware that Brazil owns American treasuries, though it amounts to 260 billion in Feb 2013. In fact foreign creditors amount to slightly 1/3 of total debt with the rest of the creditors domestically based. What is your point? That because you purchased US Treasuries you can exert influence? Even China that holds i.6 trillion can't do that. Where else will you put your funds......in Mercosur countries?
Apr 20th, 2013 - 06:06 pm - Link - Report abuse 0@10 Excellent idea, Stevie. Then argieland can steal Brazilian money instead of that loaned by proper nations.
Apr 20th, 2013 - 07:34 pm - Link - Report abuse 0@12 It's also good to remind some people here that Brazil's contribution to the IMF is pitiful. About one-third, or less, than that of the UK. Just another latino wannabe. Long way to go.
http://www.imf.org/external/np/fin/tad/exfin2.aspx?memberKey1=90&date1key=2013-04-21
and the UK?
http://www.imf.org/external/np/fin/tad/exfin2.aspx?memberKey1=90&date1key=2013-04-21
Although better than argieland, Brazil is still pitiful.
BRIC bank! What a load of bollocks. India, China and Brazil are going through massive slow downs. They don't have a cent to spare.
Apr 20th, 2013 - 07:37 pm - Link - Report abuse 0Do you people read any news?
It is kind of embarrasing
This is a not question. The question is: the developed world need our money. So, the developed world make concession! If not, we go to the other world!
Apr 20th, 2013 - 07:43 pm - Link - Report abuse 016. Go already! Nobody need's Brazil's pitiful savings.
Apr 20th, 2013 - 07:49 pm - Link - Report abuse 0We will go to the dock and wave a fond farewell
Go invest and Venezuela and Argentina then call me in 5yrs and let me know how it is going
fool
This site is great.
Apr 20th, 2013 - 07:52 pm - Link - Report abuse 0It surely helps in the integration between South American nations.
;)
The other world dont across USA. If USA is strong, this is because countries like Brazil support her. And dont forgive.....much countries and cultures think like us. We not alone!!
Apr 20th, 2013 - 07:53 pm - Link - Report abuse 019. That makes absolutely no sense in English
Apr 20th, 2013 - 08:04 pm - Link - Report abuse 0Try another translation site
Stevie, Have you ever been to South America? I have and from what I know it will never be integrated. There is too much hatred between all the countries.
yanqui
Apr 20th, 2013 - 08:10 pm - Link - Report abuse 0That is why your presence is crucial. Not necessarily in SA. Here will do just fine.
;)
This is englisee from South América. hahahahaha
Apr 20th, 2013 - 08:13 pm - Link - Report abuse 05 important things the BRICS nations (government owned central banks) are doing what's being ignored by the lame mainstream media here up north.
Apr 21st, 2013 - 04:22 am - Link - Report abuse 01 Some (Brazil, China, India and Russia) of them slowly and silently are dumping their holdings in US treasuries (they are becoming worthless). The US Federal Reserve (a private central bank) is the largest holder of those treauries i(it's eating its own shit and the put the bill on the people of the US and export inflation to the rest of the world..won't last long)
2 Most of the BRICS nations are buying gold, under the radar.
3 BRICS already signed to create an Development bank (similar to China's development bank and Brazil's Development bank, next meeting will be where it's HQ will be settled or if there will be a HQ...Brasilia or Pretoria).
4 They are signing treaties to bypass the dollar
5 Chinese yuan is becoming slowly the petroyuan (also thanks to venezuela who sell it's oil for yuan and Iran is selling it's oil and gas for gold, not US dollars..Saudi Arabia is thinking about doing the same)
“Have you ever been to South America?I have and from what I know it will never be integrated.”
Agree, to many differences but that's not the point. What is happening is that they finally work more together, something the US can't stand, most leaders and citizens in the that area don't care about the US anymore, unless they want to visit Disney World in Orlando.
Poor yanks the world is dumping slowly the Dollar and they are not even aware of that.
Apr 21st, 2013 - 10:00 am - Link - Report abuse 0The dollar will be green toilette paper in the next 5 years to come...
It seems as if some people here do not accompany history and haven't noticed that the unipolar moment the US lived after the end of the Cold War is over. The economic map of the world is radically different, and the parcel of the world economy being moved by the BRICS nations has greatly increased. The BRICS countries do not contribute more to the IMF and to the World Bank for political reasons: the president of one has to be from the US and of the other from Europe. When this changes, which has great political significance but probably will not happen any time soon, then perhaps the BRICS countries will contribute more to the IMF. It is not the BRICS countries which are using money from the IMF anymore, it is the US and the troubles EU economies that need it's loans. The role of the US dollar as the world's reserve currency is clearly coming to an end, which will not be an easy process for the world to go through, but it will go through with it. China has been pushing this with great intensity, making deals with most the nations it trades with to exchange in their own currencies and not in US dollar. In South America China's economy has become more important than the economy of the US, and it is the economy that is main motor behind politics. We are now living in the era of a multipolar world, in which the US will still be one of the most influential nations on Earth but has a greatly diminishing influence, which without a doubt will diminish further in the following decades. What troubles me is that historically ailing empires have resorted to war, and the US certainly has become more agressive militarily, which in a vicious cycle has also been responsible for out-of-control rise US debt (already higher than it's GDP and still rapidly rising). Just a few years ago, austerity measure were unimaginable in the EU and the US. Today they are the reality of those nations.
Apr 22nd, 2013 - 12:16 pm - Link - Report abuse 0The only people that think the USA is in decline are the ones that are wishing it to be in decline.
Apr 22nd, 2013 - 02:20 pm - Link - Report abuse 0Probably the same ones that thought Japan of the 1980swas going to over take the USA
or
Russia of the 1990s
now
China
Good gracious, do you know how messed up China is politically and economically? The are going to have BOTH a Real Estate bubble pop and a Debt bubble pop.
Probably at the same time.
and when it does all of these newly middle class chinese families are going to lose 3 GENERATIONS of wealth.
Rioting, civil unrest is RAMPANT in the provinces when the bubble pops you'll see it in the cities too
Then it will be a problem
Also trade in local currencies is all well and good until one of them devalues and the other is stuck with the worthless script.
Yeah I read about those bubbles. Their debt raio is like 85% and they did that almost over night. And real estate prives are crashing. That's why China needs the USA as much as vise versa. It will be interesting to see what the new premier can accomplish, if anything and how long he will sit in that seat.
Apr 22nd, 2013 - 03:20 pm - Link - Report abuse 0# 26 - The only people who don't realize the decline of the US economy and it's influence are those who do wish it do decline. How is it that a few years ago Brazil owed money to the US, and now Brazil has becom ethe 4th largest creditor of the US? Say what you want about China, they have a whole bunch of problems, but that's not what we were talking about. The fact is that China has become a more important business partner to South America than the US. This is simply the reason why the US has lost so much influence in South America. As I said before, the economy is main motor behind politics. The US share of the world economy has been steadily decreasing in the last two decades, and along with this, it's share of global power. With the exception of the military industrial complex, the US barely has a significant industry anymore. The US will continue to be a rich nation, with ever growing problems, specially in it's economy, but it's former glory will never be restored. This is the world, you'll have to deal with it.
Apr 22nd, 2013 - 03:47 pm - Link - Report abuse 0I told you boys decline is coming faster in US and the only ones that seem to don't be aware of that is you mates.
Apr 23rd, 2013 - 09:03 am - Link - Report abuse 0The question is how will be split US when collapse.
Do you think that California, Texas, etc will part of Mexico?
A Miami? will be part of Cuba?
Time will tell...
29
Apr 23rd, 2013 - 10:10 am - Link - Report abuse 0Miami part of Cuba?
Poor Castro, so many years trying to get rid of those gusanos only to get them back in an instant...
(yes, I know all exiled Cubans aren't gusanos, don't get upset yanquiboy)
Gads where do you morons come up with this stuff?
Apr 23rd, 2013 - 11:18 am - Link - Report abuse 0USA splitting up?
Dany, you make me laugh until I twist.
Morons.
@ yankeeboy
Apr 23rd, 2013 - 12:15 pm - Link - Report abuse 0Don’t worry mate we are thinking in everything and managing all possible outcomes and scenarios if USA collapse.
The US collapse will have similar implication than the collapse of the former soviet union, some states will sure split from the union and new governments will have to be organised.
That could be archived by peaceful means or unfortunate by social unrest we are sure yet.
May be troops will have to be sent to US soil to avoid that the idiots like kill each other in a civil war.
No sure yet.
Don’t worry you can still avoid the mess by departing from JFK airport before that happen.
Sure your relatives in Tijuana will provide you a roof and tacos.
Yankee remmeber that Clemente quote, “ the stupid will beat you with there experience at being stupid”.
Apr 23rd, 2013 - 12:56 pm - Link - Report abuse 0DB's experience knows no boundries. Before he type his fimger goes up his ass to ensure his shit goes everywhere.
My family has been here for 378 yrs, I'm not worried and I'm not going anywhere.
Apr 23rd, 2013 - 12:56 pm - Link - Report abuse 0You should read some of the Scifi books about what happens if the USA is no longer the world's guarantor of stability. There are plenty out there.
Do you really think Chile doesn't know Argentina is defenseless?
What do you think is keeping them from taking all the productive land in Argentina and Bolivia's gas fields? South American solidarity?
Yeah right.
@ yankeeboy
Apr 24th, 2013 - 01:20 pm - Link - Report abuse 0Your was there for 378 years but you don’t.
And after Obageddon you may be end up living in a state ruling by the Mexicans.
Who knows?
Better to move now with your relatives in Tijuana.
Trust me.
Yeah OK. I will trust the advice of someone who can't string together a coherent sentence.
Apr 24th, 2013 - 01:24 pm - Link - Report abuse 0Are you as incoherent in Spanish?
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