Donors pledge
US$18.9 million to Strengthen Technical Assistance on Anti-Money Laundering
and Combating the Financing of Terrorism
Press
Release No. 13/527
December 18, 2013
International donors renewed their support for the International
Monetary Fund’s (IMF) technical assistance in Anti-Money Laundering and
Combating the Financing of Terrorism (AML/CFT). During a session held
yesterday in Washington, D.C., they pledged $18.9 million to the work of
the Trust Fund, strengthening the second five-year phase of the global
AML/CFT program, which will begin operations on May 1, 2014.
Pledges from Switzerland, Luxembourg, the United Kingdom, Norway, Japan,
France, the Netherlands, and Saudi Arabia meet about three-fourths of the
stated needs of the Trust Fund over the next five years. The prospects for
securing the remaining resources are very good, as discussions are ongoing
with a number of other donors who also are interested in contributing to
the Trust Fund, including Qatar and Korea.
Phase Two of the Trust Fund builds on the momentum of the successful
first phase, which began in April 2009. Since that time, 69 projects have
started, including focused bilateral engagements, regional workshops, and
appointing advisers. An independent evaluation conducted in early 2012 gave
high marks to the Trust Fund. Similar to Phase One, the design of the
program for Phase Two will concentrate on longer-term and more focused work
in selected countries to deliver sustainable results.
Sean Hagan, General Counsel and Director of the Legal Department, said,
“This successful round of pledges from donors is a strong endorsement of
the work and its quality, effectiveness and management, under this Trust Fund
since 2009. Anti-money laundering and combating terrorist financing efforts
remain of real importance to financial stability. Demand for our services
remains very high, and the second phase of this Trust Fund will enable us
to maintain our important and valued capacity development efforts.”
Sharmini Coorey, Director of the IMF’s Institute for Capacity
Development, added, “This vote of confidence in the Trust Fund is greatly
appreciated. Our capacity development efforts are augmented and expanded
when we work in partnership with donors towards shared ends.”
In an increasingly interconnected world, financial stability is closely
linked with financial integrity. Money laundering and terrorist financing
activities can undermine the soundness and stability of financial
institutions and systems, discourage foreign investment, and distort
international capital flows. Moreover, problems in one country can quickly
spread to other countries in the region or in other parts of the world.
Individual countries benefit from robust AML/CFT regimes, as enhanced
financial sector integrity and stability facilitates their integration into
the global financial system. They also contribute to more transparent
governance and effective fiscal administration. The integrity of national
financial systems is thus essential to financial sector and macroeconomic
stability both on a national and international level.
Background Information
The IMF fosters capacity development assistance in member countries
through technical assistance and training, in addition to conducting
economic and financial surveillance and lending operations. The IMF’s
technical assistance helps member countries develop more effective
institutions, legal frameworks and policies to promote economic stability
and growth; while training strengthens the capacity of member countries’
officials to analyze economic developments and formulate and implement
effective policies.
Contributors to Phase One of the Trust Fund were: Canada, France, Japan,
Korea, Kuwait, Luxembourg, Norway, Netherlands, Qatar, Saudi Arabia,
Switzerland and the United Kingdom.
Web links:
Factsheet: IMF Technical Assistance: http://www.imf.org/external/np/exr/facts/tech.htm
Factsheet: IMF Training Centers: http://www.imf.org/external/np/exr/facts/training.htm
Factsheet: Regional Technical Assistance Centers: http://www.imf.org/external/np/exr/facts/afritac.htm
IMF Institute for Capacity Development: http://www.imf.org/external/np/ins/english/about.htm
Press Release: IMF Anti-Money Laundering and Combating the Financing of
Terrorism Trust Fund: http://www.imf.org/external/np/sec/pr/2009/pr09108.htm
Print quality IMF photos: http://www.flickr.com/photos/imfphoto
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1 comment:
Problem reaction solution ...
"Soros, the most powerful hedge fund short seller, is open about this part of his program. He wants to diminish the role of the U.S. in the world, including the value of the dollar.
He proposes what he calls “an annual issue of Special Drawing Rights (SDR) that rich countries would donate for international assistance.” The SDR idea is a variation of a global tax to finance more foreign aid. SDRs, created by the International Monetary Fund, have been defined as a form of international reserve currency intended to “supplement the existing official reserves of member countries” in transactions with the IMF. What Soros proposes would greatly alter and expand their use.
As someone who has developed a reputation for practicing financial and economic warfare against the nations of the world, he seems determined to drain more wealth away from the United States.
Read more: Obama’s Master George Soros: Supporting America’s Enemies at Home and Abroad | The Soros Files http://sorosfiles.com/soros/2011/10/obamas-master-george-soros-supporting-americas-enemies-at-home-and-abroad.html#ixzz2ogefT4ag
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