Which part of the IMF's financial accounts indicates this?????
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What is KJ's problem?
- Thread starter steffychun
- Start date
Which part of the IMF's financial accounts indicates this?????
The IMF can raise money through capital market trading
Meng Seng, your twisting and turning is embarrassing you. "Obliged" but not "required"? You writing a new book on legal interpretation?
Loans, grants pledges--the best way is to read the IMF wbsite
Read the link
http://www.telegraph.co.uk/finance/...es-additional-10bn-towards-IMF-war-chest.html
Here is the key part:
Controversially, though, the Government will not have to put the extra funding to a Parliamentary vote because headroom was built into the last agreement.
GOT IT NOW????
Remember to check your facts before wasting time here
And that's like printing USD???? Duh!
THe UK House of Commons debated (not voted on) the UK's contribution to the IMF AFTER the pledge was made.
It's for an emergency crisis mgt fund, there funds transferred as and when needed.
It's also a confidence booster for the global community to know that such an arrangement exists
so you're right, the IMF doesn't need our money because the crisis hasn't started yet
That is no proof. No voting, no bill pushed through
What about South Korea, Australia Germany and others?
The IMF doesn't go anywhere bankrupt because it can choose to limit the kind of help it extends
I ask you again for the financial accounts that indicate near the IMF's financial distress
BTW China is now a major contributor to the IMF
YOU CAN"T READ EITHER!
The UK Parliament voted and approved a total of 40 billion for the IMF
30 billion was previously pledged
the last 10 billion was the pledge that caused the recent debate
got it?????
Can't read English???
Controversially, though, the Government will not have to put the extra funding to a Parliamentary vote because headroom was built into the last agreement.
Last agreement = last time the commons debated + voted + approved the agreement for a ceiling of 40 billion to the IMF
GOT IT NOW?
You produced no bill or vote regarding this
When was the last time?
Yes, China has made 43 times more money than Singapore but wait, what's the size of China's population as compared to Singapore?
Goh Meng Seng
Goh Meng Seng
You must not look at things in such a simplistic manner.
Let's say a PRC came with US$1million. He bought a condominium with that money by changing it into S$1.2million. 1 year later, he sold off the condo for S$2.4million and he cash out. This will turn into US$2million.
Now, can you tell me whether the initial good balance of US$1million is an asset to Singapore when Singapore has to repay him US$2million two years later?
Goh Meng Seng
Let's say a PRC came with US$1million. He bought a condominium with that money by changing it into S$1.2million. 1 year later, he sold off the condo for S$2.4million and he cash out. This will turn into US$2million.
Now, can you tell me whether the initial good balance of US$1million is an asset to Singapore when Singapore has to repay him US$2million two years later?
Goh Meng Seng
Track records not only based on whether there are defaults on the part of IMF but rather, on the types of loans it puts up. There are quite a bit of bad debts, some of them written off. And these loans are in the hundreds of millions to billions.
Goh Meng Seng
Goh Meng Seng
Lau Goh, your 2 sentences above don't make sense.
The loan to the IMF is not risk free or totally safe, but it should not be considered risky either.
But when the IMF makes a request to the world and Singapore responds by wanting to commit 1% of IMF's total requirement, that is not unreasonable.
It's not simply about getting the best returns on this investment, otherwise just give it to the swf to invest, hahaha.
What we also want to do is to be a cooperative global citizen of the world. And if the terms and conditions of the loan are comparable to all the other countries, and it is within the country's means to lend, we should.
Btw, I guess that you want to join RP and be their candidate at the next election. Half right or two thirds right?
Like any organization that extends credit, the IMF loses money when the money does not get repaid. In the history of the IMF, there have been plenty of write offs and hair cuts. If you look at the current IMF loan portfolio, you can see an abundance of loans which look as if they will never get paid back. Without looking too far back, let's look at the loans which have been extended since the crisis of 2007. Do you think all of the money will be repaid?
The IMF avoids bankruptcy not because it is anything special. It does so because when things get bad, they can always pass the can around to raise more money. And in the past, the US, Europe and Japan have always come up with the $.
The world has however changed since 2007. Europe, one of its 3 largest contributors, is now the party in need of aid. The US and Japan are in bad fiscal condition. China has $ but they have an agenda which wants a rewriting of the world order in their favor which means that any money they cough up is going to come with some serious strings.
The IMF avoids bankruptcy not because it is anything special. It does so because when things get bad, they can always pass the can around to raise more money. And in the past, the US, Europe and Japan have always come up with the $.
The world has however changed since 2007. Europe, one of its 3 largest contributors, is now the party in need of aid. The US and Japan are in bad fiscal condition. China has $ but they have an agenda which wants a rewriting of the world order in their favor which means that any money they cough up is going to come with some serious strings.
The IMF isn't a government the last time I checked. Why the hell do you even bother responding if you can't even read?
You are a joker not because you don't know these basic concepts, but because you don't know and still want to talk shit.
In your example, the country of Singapore is not involved in this transaction with the PRC at all.
The PRC now has US$2 Million of cash (an asset), he made a capital gain (profit) of US$1 Million from the sale of his condo.
The person who bought the condo from him took out S$2.4 Million in cash to buy the condo and in return got a condo with market value of presumably
S$2.4 Million (an asset).
The PRC's money never went into Singapore's balance sheet at all.
Please don't make anyone with basic knowledge of finance, accounting and business, laugh at your ignorant comments.
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