CORRECTION on IMF Funding Post

I posted an article on September 10, 2009, written by Mark Weisbrot, CEPR, that appeared in Counterpunch on September 7 about disbursement of IMF funds to the de facto government of Honduras.  A reader informed me that this is old information and since the writing of the article, the IMF has had a change in thinking about its relationship with this particular de facto government. Here’s the straight scoop from A Lovely Promise:

The IMF did not disburse $150 million to Honduras last week. It issued a notification of an increase in Special Drawing Rights for many borrowing countries, Honduras among them. The legitimate Finance Minister, Rebecca Santos, said that the coup government could not get access to those funds because the IMF did not recognize it. IMF spokesmen agreed, the Tegucigalpa representative on the record* and the Washington one semi-on-the-record**.

Weisbrot’s article, although it ran on Counterpunch on Labor Day, originally appeared in the Guardian*** on Sept. 3, a day before Finance Minister Santos extracted a clarification from the IMF (the confirmation of which is part of a press release at Weisbrot’s own CEPR).

*http://hondurascoup2009.blogspot.com/2009/09/imf-denies-funds.html

**http://www.cepr.net/index.php/press-releases/press-releases/imf-may-withold-aid-honduras/

***http://www.guardian.co.uk/commentisfree/cifamerica/2009/sep/03/imf-honduras-aid-zelaya