National Workshop on Reforms for Economic Development of Myanmar. Presenter : U Myint Venue : Myanmar International Convention Centre (MICC) Naypyitaw Date : 19 August, 2011 Time : 14:20 – 14:40.
Presenter: U Myint
Venue: Myanmar International Convention Centre (MICC) NaypyitawDate: 19 August, 2011Time: 14:20 – 14:40
Subject: IMF, U.S. Dollar, and Global Financial Crisis
IMF does many things. But to keep matters simple, and to serve our present purpose, we need to only mention the following:
Number of votesShare in total
World Bank President is appointed by USA.
IMF Managing Director is appointed by EU.
Gold Holding typeShare (%)
Central Banks 18%
Investments (bars & coins) 16%
World total 100%
With disbanding of gold pool, London market gold price was set free. The prie rose as follows:
Year/datePrice per ounce
1985 $327.0 1995 $369.6
2011 (14 March) $1,428.1
In addition to the percentages of 4 major world currencies that form SDR, the amounts of each currency in the SDR is also fixed and specified by the IMF Executive Board for every 5 years. For the present 5 year period, these are as follows:
US dollar 0.6600
Pound sterling 0.1110
Japanese yen 12.1000
There are three types of demand, namely:
There are said to be three big flows in the world economy. They are:
April 2007, Washington, D.C., USA; Woodrow Wilson International Center. From left to right: U Thet Tun, U Myint, Joseph Stiglitz, Ronald Findlay, U Myat Thein.
BB countries think they are immune to global financial disease, because: