UANI calls on IMF to cease its business with Iran's Central Bank
11:37 - 2 May 2012
Kurdpa: United Against Nuclear Iran, an American advocacy group that has successfully pushed to isolate Iran economically through sanctions and business boycotts opened a new front in that effort on Tuesday, seeking to pressure the International Monetary Fund to withdraw all its holdings in Iran’s central bank or to suspend Iranian membership.
Mark Wallace, president of United Against Nuclear Iran, has sent a letter to IMF managing director Christine Lagarde criticizing the IMF’s relationship with Iran, according to a copy provided to Bloomberg.
“The I.M.F. should not be hosting Iranian delegations in the U.S. and elsewhere, and Ms. Lagarde should stop lavishing praise on Iran and Bank Markazi,” the chief executive of United Against Nuclear Iran, Mark D. Wallace, said in a statement announcing its new effort.
“The IMF also must stop treating the Iranian regime like a responsible government in good standing at a time when the international community is trying to isolate it. The IMF should not be hosting Iranian delegations in the U.S. and elsewhere, and Ms. Lagarde should stop lavishing praise on Iran and Bank Markazi.” the statement further added.
William Murray, a spokesman for the I.M.F. in Washington, said in a statement that the fund’s holdings in Iran’s central bank, worth more than $1 billion, are part of the arrangements made with any member, and that the account is denominated in Iranian currency, not dollars.
“I don’t have a grudge with the good people of the I.M.F.,” Mr. Wallace said in a telephone interview. But, he said, “it can’t be business as usual anymore.” New York Times reported.
“There is nothing in the E.U. or U.S. sanctions regimes that is inconsistent with these arrangements,” he said. As for the call for Iran’s suspension, Mr. Murray said, “This is a matter that is best taken up with the fund’s member countries. We have no comment.”
Under Article 26 of the I.M.F. Articles of Agreement, suspension of an I.M.F. member’s voting rights requires approval from a 70 percent majority of the total voting power among the other members, which is weighted partly according to their economic size.
A Treasury Department spokesman in Washington, John Sullivan, said that both the United States and the European Union regarded the I.M.F. as exempt from American and European sanctions on Iran’s central bank, according to the NY Times report.
There was no immediate comment from Iran; however, Tehran Times, the English-language state-run newspaper considered the IMF chief’s response to the pressure as a ‘snub’ and stated that International Monetary Fund officials dismissed the U.S. pressures to suspend Iran relation with the fund, insisting the IMF isn’t violating any laws toward Iran.
Iran’s central bank, also known as Bank Markazi, has been sanctioned by the U.S. and the European Union.
source: the agencies
Mark Wallace, president of United Against Nuclear Iran, has sent a letter to IMF managing director Christine Lagarde criticizing the IMF’s relationship with Iran, according to a copy provided to Bloomberg.
“The I.M.F. should not be hosting Iranian delegations in the U.S. and elsewhere, and Ms. Lagarde should stop lavishing praise on Iran and Bank Markazi,” the chief executive of United Against Nuclear Iran, Mark D. Wallace, said in a statement announcing its new effort.
“The IMF also must stop treating the Iranian regime like a responsible government in good standing at a time when the international community is trying to isolate it. The IMF should not be hosting Iranian delegations in the U.S. and elsewhere, and Ms. Lagarde should stop lavishing praise on Iran and Bank Markazi.” the statement further added.
William Murray, a spokesman for the I.M.F. in Washington, said in a statement that the fund’s holdings in Iran’s central bank, worth more than $1 billion, are part of the arrangements made with any member, and that the account is denominated in Iranian currency, not dollars.
“I don’t have a grudge with the good people of the I.M.F.,” Mr. Wallace said in a telephone interview. But, he said, “it can’t be business as usual anymore.” New York Times reported.
“There is nothing in the E.U. or U.S. sanctions regimes that is inconsistent with these arrangements,” he said. As for the call for Iran’s suspension, Mr. Murray said, “This is a matter that is best taken up with the fund’s member countries. We have no comment.”
Under Article 26 of the I.M.F. Articles of Agreement, suspension of an I.M.F. member’s voting rights requires approval from a 70 percent majority of the total voting power among the other members, which is weighted partly according to their economic size.
A Treasury Department spokesman in Washington, John Sullivan, said that both the United States and the European Union regarded the I.M.F. as exempt from American and European sanctions on Iran’s central bank, according to the NY Times report.
There was no immediate comment from Iran; however, Tehran Times, the English-language state-run newspaper considered the IMF chief’s response to the pressure as a ‘snub’ and stated that International Monetary Fund officials dismissed the U.S. pressures to suspend Iran relation with the fund, insisting the IMF isn’t violating any laws toward Iran.
Iran’s central bank, also known as Bank Markazi, has been sanctioned by the U.S. and the European Union.
source: the agencies
