Finance Leaders Back U.N. Postwar Plan

Associated Press ^ | April 12, 2003 | HARRY DUNPHY

[aruanan]

By HARRY DUNPHY, Associated Press Writer

WASHINGTON - Finance officials from the seven richest industrial countries agreed Saturday to support a new U.N. Security Council resolution as part of a global effort to rebuild Iraq (news - web sites).

The deal settles a dispute that had threatened to delay postwar help that the United States had insisted could go ahead without a further U.N. resolution.

But the finance leaders, in a joint statement, endorsed a resolution as part of a reconstruction plan that will involve the International Monetary Fund (news - web sites) and the World Bank (news - web sites).

"We recognize the need for a multilateral effort to help Iraq. We support a further U.N. Security Council resolution," said the finance ministers and central bank presidents from the United States, Japan, Germany, France, Britain, Italy and Canada.

That was a concession by the Bush administration. U.S. officials had argued that IMF-World Bank reconstruction efforts could begin as part of an American-led rebuilding program without a further U.N. resolution. The world body had failed to endorse the U.S.-led military campaign to oust Iraqi President Saddam Hussein (news - web sites).

France and Germany, leading critics of the war, rejected the administration's approach. They said the lending institutions should not become involved in Iraq until there was a deal on the United Nations (news - web sites)' role in overseeing reconstruction. Click for the rest of the story.

[aruanan]

I see the IMF, World Bank, France, Germany, and a few other criminal organizations are slavering for a piece of wounded Iraq. Just when it looked as though something new and different could be accomplished in the wake of the so-far successful coalition effort. I think Bruce Cockburn summed up the IMF well in this song:

Call It Democracy

Padded with power here they come
International loan sharks backed by the guns
Of market hungry military profiteers
Whose word is a swamp and whose brow is smeared
With the blood of the poor

Who rob life of its quality
Who render rage a necessity
By turning countries into labour camps
Modern slavers in drag as champions of freedom

Sinister cynical instrument
Who makes the gun into a sacrament --
The only response to the deification
Of tyranny by so-called "developed" nations'
Idolatry of ideology

North South East West
Kill the best and buy the rest
It's just spend a buck to make a buck
You don't really give a flying *uck
About the people in misery

IMF dirty MF
Takes away everything it can get
Always making certain that there's one thing left
Keep them on the hook with insupportable debt

See the paid-off local bottom feeders
Passing themselves off as leaders
Kiss the ladies shake hands with the fellows
Open for business like a cheap bordello

And they call it democracy
And they call it democracy
And they call it democracy
And they call it democracy

See the loaded eyes of the children too
Trying to make the best of it the way kids do
One day you're going to rise from your habitual feast
To find yourself staring down the throat of the beast
They call the revolution

IMF dirty MF
Takes away everything it can get
Always making certain that there's one thing left
Keep them on the hook with insupportable debt

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[aruanan]

I paid!

[aruanan]

I don't understand why we are permitting the UN to aid us in rebuilding Iraq

Yes, if they didn't break it, they shouldn't try to fix it. If the World Bank and the IMF were run on the principles of von Mises, that would be a different story. But you can bet that any world banking entity that the French and the Germans are pushing for will be a socialist disaster.

[longtermmemmory]

they have 21 billion of iraq's oil for food money.