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Issac John


9 February 2009
DUBAI - The International Monetary Fund (IMF) on Sunday ruled out any systemic risk to the UAE, but said the country needed to use its policy responses to the current financial turmoil more forcefully before the end of the year.

“UAE’s policy responses, including fiscal, monetary and financial measures are well on track to address the situation,” said Masood Ahmed, Director of the IMF’s Middle East and Central Asia Department


http://www.khaleejtimes.com/biz/inside. ... n=business



oh god I'm confused , should I go with arniegang ( DF economy expert ) or The International Monetary Fund . naaa I'll go with arniegang since everyone is going along with him , why shouldn't I ?

you see arniegang we are going up 3.6 and you 3.0 down. So for you and the other respected DF members please stop embarrassing your selves.

What exactly are you predicting kid?

who are they tryign to fool?

poor kid.

Next Please !!!!

Be careful with that IMF, uaekid.

The IMF has a history of lending money to Third World countries, knowing full well the country cannot pay back even the interest, never mind the initial amount.

The IMF later returns with plans to 'restructure' the targeted country's economy: schools, hospitals, etc close down and valuable resources are now owed to multinational corporations.

The country cannot afford to feed its own people but has to instead grow cash crops to sell abroad and 'help' pay off its crippling debt.

I'm not saying this will happen here, uaekid, what I'm saying is, I don't trust the IMF one little bit.

I'm not predicting anything, I'm just passing news I get fro reliable sources.

Del wrote:Be careful with that IMF, uaekid.

The IMF has a history of lending money to Third World countries, knowing full well the country cannot pay back even the interest, never mind the initial amount.

The IMF later returns with plans to 'restructure' the targeted country's economy: schools, hospitals, etc close down and valuable resources are now owed to multinational corporations.

The country cannot afford to feed its own people but has to instead grow cash crops to sell abroad and 'help' pay off its crippling debt.

I'm not saying this will happen here, uaekid, what I'm saying is, I don't trust the IMF one little bit.

thats scary if they realy operate like this .

uaekid wrote:

Del wrote:Be careful with that IMF, uaekid.

The IMF has a history of lending money to Third World countries, knowing full well the country cannot pay back even the interest, never mind the initial amount.

The IMF later returns with plans to 'restructure' the targeted country's economy: schools, hospitals, etc close down and valuable resources are now owed to multinational corporations.

The country cannot afford to feed its own people but has to instead grow cash crops to sell abroad and 'help' pay off its crippling debt.

I'm not saying this will happen here, uaekid, what I'm saying is, I don't trust the IMF one little bit.

thats scary if they realy operate like this .

You didn't know?
What do you think is happening in Africa and other Third World areas?

One wonders why they had to distort the visa facts to the IMF. The terms "cover up " and "smokesceen" springs to mind.

arniegang
LOOOOOOOL everything other than what you state seems to have a smoke screen, you are one sad person, you don't want to believe or trust western banks reports and westerns international financial organization !

uaekid wrote:arniegang
LOOOOOOOL everything other than what you state seems to have a smoke screen, you are one sad person, you don't want to believe or trust western banks reports and westerns international financial organization !

whatever

ya whatever

uaekid wrote:Issac John


9 February 2009
DUBAI - The International Monetary Fund (IMF) on Sunday ruled out any systemic risk to the UAE, but said the country needed to use its policy responses to the current financial turmoil more forcefully before the end of the year.

“UAE’s policy responses, including fiscal, monetary and financial measures are well on track to address the situation,” said Masood Ahmed, Director of the IMF’s Middle East and Central Asia Department


http://www.khaleejtimes.com/biz/inside. ... n=business



oh god I'm confused , should I go with arniegang ( DF economy expert ) or The International Monetary Fund . naaa I'll go with arniegang since everyone is going along with him , why shouldn't I ?

you see arniegang we are going up 3.6 and you 3.0 down. So for you and the other respected DF members please stop embarrassing your selves.

When you say things like this. Firstly try to reason what actually meant with this article.

The UAE faces no systemic risks. Ok, that is true in relation to interbanking monetary policy of Europe, US and UK.
But why don't the UAE face no systemic bank risks? That is because most Arabic banks are not intertwined with these Western banks. They are state backed...and that is backing with oil dollars.

So indeed no systemic bank failures ahead. But there is a significant funding problem for Dubai, which for itself is not very dependant on oil like its big brother Abu Dhabi. But unlike Dubai, AD has plenty of oil dollars left. They're gonna need them too to keep those banks up that fund Emaar and Nakheel property developers!

Its a different construction (no pun intended) but leverage is the same. Both based on increasing property values. So the recent oil spikes of July 2008 might delay the inevitable, but if this crisis continues any longer...more financial hurting will come in the Middle Eastern region of the world.

Regarding the IMF. The IMF is funded by means of contribution from Western countries based on their respective GDP. Its a progressive contribution, meaning the richer you are, the more you pay to the IMF.
The IMF recently paid enormous amounts of aid money to nations that were facing defaults (central Europe and Iceland for instance) that they have come to the point that the reserves are down.
Recently Klaus Kahn from the IMF told the world that they need another $100 billion for January to fund further countries in need for help.
Not a country in the world that will contribute more in times of crisis, except for its largest contributor...Saoudi Arabia...but for how long!
There comes a time when the IMF gold reserves have to be sold, to "counter-fund" the mayhem crossing our globe b'cause the IMF is in bad shape too.
See there website (if it has been updated recently)...

edit: b.t.w, IMF gold reserves are not worth more than 90 billion dollars at current gold spot prices... but when the amount of gold is sold on the open market, the spot price of gold will collapse too, as gold is very scarsely available... (will not happen I think, as China wants to buy gold OTC or known as Over-The-Counter, to diversify its foreign exchange reserves)

This is exactly two lines taken out of an entire article.

What about where the same person who is quoted above states:

“However, more action need to be taken as the country passes through an unwinding course with regard to the asset bubbles created by the speculative inflow of abundant liquidity,” he said.

Or, also quoted from the same article ...


"He said that the UAE would be facing a sharp decline in its current account situation — from a $40 billion surplus in 2008 to a deficit of $15-16 billion in 2009."

This seems to contradict the title of the article as well as some of more positive sentiments of the article ...