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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Russia announces no participation in World Bank capital increase

    Rocky
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    • Post n°1

    Bank - Russia announces no participation in World Bank capital increase Empty Russia announces no participation in World Bank capital increase

    Post by Rocky Sun 22 Apr 2018, 7:23 am

    Russia announces no participation in World Bank capital increase





    2018/04/22 13:48

    (Encyclopedia of this Day News | Iraq News ) - Follow - up / Tomorrow Press: The Russian government announced on Sunday, not to participate in increasing the World Bank 's capital , which was approved in view of the lack of approval of the new credit policy principles Balpennek.ozkr Russian Deputy Finance Minister Sergei Struchak said the bank's policy would soon reduce loan support from the country's largest and most reliable borrowers, India and China, as earlier with financing projects in Russia. 

    Adding that the decisions taken by shareholders to inject funds into the high-poverty countries bear the risk of losing financial stability and the high probability of demanding a new increase in the bank's capital within the next few years.

    He added that the Russian refusal will lead to a reduction of Moscow's share in the capital of the World Bank, and thus reduce the number of votes on the board of the bank. The Russian official said that projects in poor countries return to the World Bank profits, adding that the bank, like other credit institutions must seek to win Money is self-sustaining and has its own resources to support the interest rate for the poor who can not even get close to the market. Struchak said the World Bank had refused to fund projects in Russia and therefore in such circumstances. For all these reasons, how can we convince the leadership of the state or go to Parliament N to ratify the decision of our participation in the capital increase Alpennek.ovi earlier World Bank has announced its member states to take a decision to increase the bank's capital by $ 13 billion.


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    Rocky
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    • Post n°2

    Bank - Russia announces no participation in World Bank capital increase Empty Russia refuses to participate in the World Bank's capital increase

    Post by Rocky Mon 23 Apr 2018, 2:15 am

    Russia refuses to participate in the World Bank's capital increase


    Bank - Russia announces no participation in World Bank capital increase 7456

    The Russian government has decided not to participate in the World Bank's capital increase, which was approved last Saturday, because it disagreed with the new principles of the bank's credit policy. 
    "The bank's policy will soon reduce loan support from the largest and most reliable borrowers of the bank, India and China, as was the case earlier with financing projects in Russia," Deputy Finance Minister Sergei Struchak said, citing the decision not to participate. "The decisions taken by shareholders to pump money in the high-poverty countries bear the risk of losing financial stability and the high probability of demanding a new increase in the bank's capital within the next few years." 
    "Russia's refusal will reduce Moscow's stake in the World Bank's capital and thus reduce its stake in the bank's board," Struchak said.
    The Russian official also complained that "projects in poor countries are returning to the World Bank with profits." Like other credit institutions, the bank must seek to make money, support itself, and have its own resources to support the Interest for the poor who can not even get closer to the market. 
    "The World Bank has refused to finance projects in Russia, and therefore in such circumstances and for all these reasons, how can we convince the leadership of the state, or go to parliament to ratify the decision to participate in increasing the bank's capital," Struchak said. 
    On Saturday, the World Bank announced that its member states had decided to increase the bank's capital by $ 13 billion. 
    The bank said it would send $ 7.5 billion to the International Bank for Reconstruction and Development (IBRD) and the remaining $ 5.5 billion to the International Finance Corporation (IFC).
    "As a result of this capital increase, the total financial resources of the World Bank Group are expected to reach an average annual volume of approximately $ 100 billion in 2019-2030," the statement said. 
    This decision was reached during the regular meeting of the Washington Group of Members, which was held from April 16-22.

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