IMF / ARGENTINA

During the IMF bi-weekly press briefing, William Murray, IMF Deputy Spokesperson and Advisor of the Communications Department, explained the rationale behind this week’s announcement that the IMF’s Managing Director had withdrawn her recommendation that the IMF Executive Board file an amicus curiae brief in the Argentina case. IMF

• Categories: News & Features / News Stories / Unifeed
• Video Length: 00:01:29
• Production Date: 25 July 2013
• Asset Language: Original
• Corporate Name: INTERNATIONAL MONETARY FUND - IMF
• Subject Topical: ECONOMIC DEVELOPMENT; FINANCING; ECONOMICS; ECONOMIC CONDITIONS
• Geographic Subject: ARGENTINA; UNITED STATES; PORTUGAL
• MAMS Id: U130725e

Description

STORY: IMF / ARGENTINA
TRT: 1.29
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 25 JULY 2013, WASHINGTON DC / FILE

Shotlist

FILE - RECENT, WASHINGTON DC

1. Wide shot, exterior IMF

25 JULY 2013, WASHINGTON DC

2. SOUNDBITE (English) William Murray, Deputy Spokesman, IMF:
“It would not be appropriate for the IMF to file this brief without US support for two reasons. First, the Fund has a duty of neutrality in disputes involving its member governments: the lack of US support means that the filing could potentially place the Fund in the middle a dispute between two Fund members, which would breach this duty of neutrality. Second, the lack of US support in this case could undermine the effectiveness of the Fund’s filing.”
3. Med shot, reporters
4. SOUNDBITE (English) William Murray, Deputy Spokesman, IMF:
“All countries should have flexibility of debt restructuring, and if the flexibility is compromised, that has potential global financial stability and systemic implications. That is really what is boiled down to.”
5. Med shot, reporters
6. SOUNDBITE (English) William Murray, Deputy Spokesman, IMF:
“We look forward to continue to work with the authorities to support Portugal’s efforts to create the conditions for sustained recovery, and also sustainable growth and job creation.”

FILE - RECENT, WASHINGTON DC

7. Wide shot, exterior IMF

25 JULY 2013, WASHINGTON DC

Storyline

During the IMF bi-weekly press briefing, William Murray, IMF Deputy Spokesperson and Advisor of the Communications Department, explained the rationale behind this week’s announcement that the IMF’s Managing Director had withdrawn her recommendation that the IMF Executive Board file an amicus curiae brief in the Argentina case.

“It would not be appropriate for the IMF to file this brief without US support for two reasons. First, the Fund has a duty of neutrality in disputes involving its member governments: the lack of US support means that the filing could potentially place the Fund in the middle a dispute between two Fund members, which would breach this duty of neutrality. Second, the lack of US support in this case could undermine the effectiveness of the Fund’s filing,” he said.

Murray also reiterated the IMF’s view, when he said “all countries should have flexibility of debt restructuring, and if the flexibility is compromised, that has potential global financial stability and systemic implications.”

Turing to Europe, Murray was asked if the IMF has been in touch with the government since the cabinet reshuffle. He said the Fund has no particular comments on personnel decisions by the governments.

“We look forward to continue to work with the authorities to support Portugal’s efforts to create the conditions for sustained recovery, and also sustainable growth and job creation,” he reiterated.