IMF: the modern Robin Hood

Dominique Strauss-Kahn has ben accused of sexual assault. Of course, he is innocent. Any maid of the world, furthermore if she comes from an impoverished African country, would be delighted to have oral sex with a man of his presence, a man with more than half a million dollar pay (plus expenses). He could even be compared with the great Silvio.

Of course, his French  comrades fully support him, without any hesitation. According to:

http://www.dailymail.co.uk/news/article-1388032/Dominique-Strauss-Kahn-Frances-fury-lynching-IMF-boss-rape-charge.html

former Culture Minister Jack Lang described the treatment of the Socialist presidential frontrunner, whose political career is now in tatters, as a 'lynching' that had 'provoked horror and aroused disgust'.

Lynching Dominique, while she is the culprit!


The most important is that the arrest of the managing director of the IMF does not affect the markets:

In any case, this unfortunate event has put the IMF in the spotlight.
What is the IMF? You can find the response at:

http://www.imf.org

The IMF, as it could not be otherwise, has an extensive Code of Conduct for Staff:

Do not embarrass us!

and in case of doubt they publish illustrative examples:

Cookies and freedom of expression!

What are IMF objectives?

so, monitor, assist and lend money to reduce poverty. How they do it?
You could fin the answers taking a look to their financials,audited by Deloitte & Touche:

The organization is funded through the quotas paid by its members. Of a total balance sheet of more than $385 billion, they lend $62 billion. To whom?:

Africa and Latin America could not complain, they receive more than 3% of total loans.

Of course, in exchange of lending, the favoured  countries have to follow IMF "advice", whose recepits are always the same: slashing public sector, privatization (of companies that could interest to international investors), tax increases, etc.

But, we cannot forget one of the main objectives of the IMG is to help reduce poverty, and the financials prove that without any doubt.  Countries like Burkina Fasso, Burundi, Cote d'Ivory, Ghana and Togo have received loans for 80, 70, 250,  250, and 86 SDR million respectively, which combined is more  than  7% of the loans granted to Romania and almost 14% of the loans granted to Pakistan.

Pakistan is an important ally in the fight against Al-Qaeda, and therefore they need money. However, this policy has to be reviewed in view of the fact that OBL was hidden there, and the same will happen with the IMF contribution to its development.

IMF total income, mainly from interests charged is $2,7 billion., but they have many expenses, for a total amount of $1,1 bilion., including $184 million in salaries. We have to take into acount that more than 30 senior officers receive an average and very well deserved pay of 300.000$.

Last but not least, IMF is one of the main holders of gold in the world, after accumulating a lot of onzes since its inception. Its reserves have a market value of more than $123 billion. These reserves could be used (in the future, don't be impatient) to continue IMF's formidable task of reducing world poverty.