Jacob J. Lew member of the IMFOriginally Posted by allodial
Testimony of Secretary Jacob J. Lew Before the House Committee on Appropriations Subcommittee on State, Foreign Operations, and Related Programs on the Fiscal Year 2014 Treasury International Programs Budget Request. http://www.treasury.gov/press-center...es/jl1910.aspx
The United States has also forcefully advocated for the IMF to protect and support spending for poor people in its low-income country lending arrangements aka ...I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it. - Ben Franklin – 1766.
IMF Members' Quotas and Voting Power, and IMF Board of Governors Last Updated: November 19, 2014. http://www.imf.org/external/np/sec/m...members.aspx#U
International Monetary Fund Organization Chart Last Updated: May 28, 2014 http://www.imf.org/external/np/obp/orgcht.htm
IMF Governors Formally Approve US$250 Billion General SDR Allocation Press Release No. 09/283 August 13, 2009 http://www.imf.org/external/np/sec/pr/2009/pr09283.htm
The SDR was created by the IMF in 1969 to support the Bretton Woods fixed exchange rate system. A country participating in this system needed official reserves—government or central bank holdings of gold and widely accepted foreign currencies—that could be used to purchase the domestic currency in foreign exchange markets, as required to maintain its exchange rate. But the international supply of two key reserve assets—gold and the U.S. dollar—proved inadequate for supporting the expansion of world trade and financial development that was taking place. Therefore, the international community decided to create a new international reserve asset under the auspices of the IMF. http://www.imf.org/external/np/exr/facts/sdr.htm
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