California, Bernie Sanders and Mr. Trump. And Somalia + Mexiiiiico!

On Febuary 24th, 2016, we wrote : IF NOT SANDERS THEN MR. TRUMP. HERE WE ARE.

Bingo !

« Game on. I look forward to debating Donald Trump in California before the June 7 primary » (Bernie Sanders).

« It was Bernie Sanders’ turn to go on Jimmy Kimmel Thursday one night after Donald Trump sat down with the late-night talk show host. Passing along a question from Sanders, Kimmel had asked the Republican presidential candidate if he would debate Sanders. Trump said yes. “Game on,” Sanders tweeted.

Game on. I look forward to debating Donald Trump in California before the June 7 primary.

Sanders had hoped to debate Hillary Clinton in California, but she backed out of her agreement to a debate before the Golden State’s June 7 primary election. Sanders called that “kind of an insult to the people of the largest state.”

During his stop at the Los Angeles studio, Sanders also talked about Clinton’s lead among so-called superdelegates — elected officials and party leaders. More than 400 superdelegates endorsed Clinton even before the White House campaign began. Sanders called that “pretty absurd and undemocratic.”

Listen Bernie Sanders on debating Trump.

Bernie Sanders for President

California, here we come. A shocking new poll just came out that shows us just TWO POINTS back from Secretary Clinton in California’s June 7 primary.

California Poll (May 13-22)
Public Policy Institute of California

Hillary Clinton: 46%
Bernie Sanders: 44%

The first poll of this primary in California had us losing the state by 53 percent. Now we’re within striking distance of winning the most delegates in a single state of this entire election.

Winning California would send an unmistakable message to the political establishment and the Democratic convention, and that’s why we have to ask for your help in two ways:



Make no mistake: every vote we earn, delegate we secure, and state we win is an affirmation of the progressive values shared by our political revolution. That’s why we’re going to have thousands of volunteers knocking on doors and making calls this weekend, and why we’re going to work hard towards the final FEC deadline of our primary next week.

Bernie wants to see California in our win column. I do too.

Do you?

Yes, I can volunteer to call California voters for Bernie this weekend.

Yes, I can contribute $3 to Bernie’s campaign to help win California.

Five more states also vote with California, and we’re going to fight to win there too. Let’s keep our political revolution going all the way to the convention.

In solidarity,

Jeff Weaver
Campaign Manager
Bernie 2016



IMF Managing Director Approves Staff-Monitored Program for Somalia

Press Release No. 16/248
May 27, 2016

The Managing Director of the International Monetary Fund (IMF) approved on May 16, 2016 a Staff-Monitored Program (SMP) for the Federal Republic of Somalia, covering the period of May 2016–April 2017.1

Somalia is recovering slowly from nearly 25 years of civil war. Weak institutional capacity, complex clan politics, and a challenging security situation have complicated the country’s economic reconstruction. As a result, social and economic conditions remain dire. With continued support from the international community and key donors, the Federal Government of Somalia has initiated important reforms to lay the foundation for the country’s economic reconstruction. To help Somalia’s economic reconstruction efforts and establish a track record on policy and reform implementation, the authorities have requested an IMF SMP.

Go ahead with the reading at the IMF website.




IMF Executive Board Approves New Two-Year US$88 Billion Flexible Credit Line Arrangement with Mexico

Press Release No. 16/250
May 27, 2016

The Executive Board of the International Monetary Fund (IMF) today approved a successor two-year arrangement for Mexico under the Flexible Credit Line (FCL) in an amount equivalent to SDR 62.389 billion (about US$88 billion) and canceled the previous arrangement (SDR 47.292, about US$67 billion). The Mexican authorities stated their intention to treat the arrangement as precautionary.

The FCL was established on March 24, 2009 as part of a major reform of the Fund’s lending framework (see Press Release No. 09/85). The FCL is designed for crisis prevention purposes as it provides the flexibility to draw on the credit line at any time. Disbursements are not phased nor conditioned on compliance with policy targets as in traditional IMF-supported programs. This flexible access is justified by the very strong track records of countries that qualify for the FCL, which gives confidence that their economic policies will remain strong.

Mexico’s first FCL arrangement was approved on April 17, 2009 (see Press Release No. 09/130), and successor arrangements were approved on March 25, 2010 (see Press Release No. 10/114), January 10, 2011 (see Press Release No. 11/4), November 30, 2012 (see Press Release No. 12/465), and November 26, 2014 (seePress Release No. 14/543).

Following the Executive Board’s discussion on Mexico, Mr. David Lipton, First Deputy Managing Director and Acting Chair, issued the following statement:

“Mexico’s macroeconomic policies and policy frameworks remain very strong. Monetary policy is guided by an inflation-targeting framework in the context of a flexible exchange rate. Fiscal policy is underpinned by the fiscal responsibility law, and the authorities are committed to a consolidation path that would put the public debt-to-GDP ratio on a downward trajectory over the medium term. The financial regulatory and supervisory framework is strong. Medium-term growth should benefit from a range of ongoing structural reforms.

“The Mexican economy has shown impressive resilience to a slowdown in world growth in recent years. Economic activity is growing at a steady pace, inflation is low and stable, and the financial system is sound. Nevertheless, Mexico’s economy remains exposed to external risks, give its close ties with the global economy. Downside risks to global growth have risen, and volatility in global financial markets has increased. The new arrangement under the Flexible Credit Line (FCL), with a higher level of access, will continue to play an important role in supporting the authorities’ macroeconomic strategy by providing insurance against greater external risks and bolstering market confidence.

“The authorities remain committed to enhancing Mexico’s resilience to external shocks further through steady implementation of the fiscal consolidation plans, continued anchoring of inflation expectations, gradual rebuilding of reserve buffers, and strong oversight of the domestic financial system. The authorities do not intend to make permanent use of the FCL. As global risks facing emerging markets recede, they intend to reduce access under the FCL in the future, with a view to phasing out Mexico’s use of the instrument.”

Source. The IMF.