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    Oxfam On Haiti & The IMF: Oxfam Spokesperson Pamela Gomez Said

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    Oxfam spokesperson Pamela Gomez said that asking Haiti to repay assistance after being devastated by a natural disaster is untenable and that the IMF must change its rules to provide grants instead of just loans. The IMF's rules currently only allow it to provide funds as loans. Oxfam argues that the IMF should be able to provide grants in cases of extreme crisis so countries do not become further in debt and that the IMF has surplus funds from gold sales that could be used for emergency grants.

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    Oxfam On Haiti & The IMF: Oxfam Spokesperson Pamela Gomez Said

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    Oxfam spokesperson Pamela Gomez said that asking Haiti to repay assistance after being devastated by a natural disaster is untenable and that the IMF must change its rules to provide grants instead of just loans. The IMF's rules currently only allow it to provide funds as loans. Oxfam argues that the IMF should be able to provide grants in cases of extreme crisis so countries do not become further in debt and that the IMF has surplus funds from gold sales that could be used for emergency grants.

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    Oxfam spokesperson Pamela Gomez said that asking Haiti to repay assistance after being devastated by a natural disaster is untenable and that the IMF must change its rules to provide grants instead of just loans. The IMF's rules currently only allow it to provide funds as loans. Oxfam argues that the IMF should be able to provide grants in cases of extreme crisis so countries do not become further in debt and that the IMF has surplus funds from gold sales that could be used for emergency grants.

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    9 views1 page

    Oxfam On Haiti & The IMF: Oxfam Spokesperson Pamela Gomez Said

    Uploaded by

    api-26355474
    Oxfam spokesperson Pamela Gomez said that asking Haiti to repay assistance after being devastated by a natural disaster is untenable and that the IMF must change its rules to provide grants instead of just loans. The IMF's rules currently only allow it to provide funds as loans. Oxfam argues that the IMF should be able to provide grants in cases of extreme crisis so countries do not become further in debt and that the IMF has surplus funds from gold sales that could be used for emergency grants.

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    24 April

    Oxfam on Haiti & the IMF

    Oxfam spokesperson Pamela Gomez said:

    “Asking a poor country that has been devastated by a natural disaster to repay
    assistance is untenable. The IMF must change its rules so that it can give grants
    rather than just loans.”

    Background
    The IMF’s Articles of Agreements preclude the institution from providing the funds in
    any other form except a loan. The IMF must now change its rules so that in the
    case of extreme shocks, it can disburse grants so that a crisis-affected country can
    be helped without getting further into debt. The IMF could provide funds for these
    emergency grants from the windfall it realized from its recent gold sales. The current
    surplus in the IMF’s operating budget and further sales of its gold holdings, could
    also be used. The IMF estimated in January that the market value of its gold
    holdings at that time was approximately $107 billion.

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