首位女掌門法財長當選IMF總裁

• 2011-06-30 旺報 【記者梁世煌／綜合報導】

http://news.chinatimes.com/mainland/17180502/172011063000208.html

國際貨幣基金（IMF）新任總裁人選昨天凌晨終於塵埃落定，法國財政部長拉加德（Christine Lagarde）在中國、美國、俄羅斯等主要成員國支持下，確定成為下一任IMF總裁，她將是首位執掌IMF的女性，也是該組織第一位非經濟學家出身的掌門人，拉加德預計7月5日走馬上任，任期5年。

　根據IMF聲明，現年55歲的拉加德是在未經正式投票表決的情形下，以成員國協商並獲得一致通過方式贏得此一任命。現任墨西哥央行行長卡 斯滕斯則在此次爭取IMF總裁中確定敗北，因此，拉加德的任命案在獲得IMF的24個成員國背書後，意味著70年來IMF由歐洲人主導的「傳統」並未改 變。

　首要任務 解歐債危機

　拉加德隨後發表聲明表示，她將繼續推動IMF在世界經濟和金融危機中扮演的角色，努力促進世界經濟強勁持續穩定增長，目標便是「為IMF的全體成員國服務」。

　法國總統薩科齊則在第一時間對拉加德當選表示祝賀，並稱這是「法國的勝利」。

　法新社則報導，拉加德上任後，第一個面臨的難題就是如何緩和希臘國內反對財政緊縮計畫引發的示威活動，造成對歐元區整體穩定的威脅。

　《華爾街日報》報導，拉加德接掌IMF後，將捲入不斷加深的歐債危機，其首要任務之一就是在歐元區和IMF同意向希臘提供1100億歐元救助一年後，幫助制定第二個希臘救助計畫。

　分析師認為，拉加德上任後，不會偏離她自己常說的支援希臘、維護歐元區完整的一貫立場。

　其次，由於拉加德入主IMF，被外界認為，IMF未來的重心仍將偏重歐洲，因此，她未來勢必被要求給予發展中國家更多的權力，並協助IMF走出前總裁卡恩因性侵案突然辭職的陰影。

　傳朱民可望任副總裁

　為博取中國支持，拉加德先前在訪中行程中承諾，中國未來在IMF的代表權將獲提升，包括巴西在內的其他新興經濟體也將在IMF中扮演更重要的角色。

　值得注意的是，由於中國對拉加德表態支持，加上IMF第一副總裁利普斯基（John Lipsky）將於8月31日退休，前中國人民銀行（大陸央行）副行長、現任IMF總裁特別顧問的朱民已被外界認為是可能接任IMF第一副總裁的熱門人選。

　事實上，拉加德在當選前也曾強烈暗示入主IMF後，將支持朱民在IMF高層中扮演更重要的角色；復旦大學經濟學院副院長孫立堅對此認為，以中國當前在全球的經濟實力，未來朱民出線的機率應該很大。

IMF hit by 'very major' cyber security attack

BBC News - 12 June 2011 Last updated at 18:52 GMT
(http://www.bbc.co.uk/news/world-us-canada-13740591)

The International Monetary Fund (IMF) says it has been targeted by a sophisticated cyber attack.

Officials at the fund gave few details but said the attack earlier this year had been "a very major breach" of its systems, the New York Times reports.

Cyber security officials said the hack was designed to install software to create a "digital insider presence".

The IMF, which holds sensitive economic data about many countries, said its operations were fully functional.

The cyber attack took place over several months, and happened before former IMF chief Dominique Strauss-Kahn was arrested over sexual assault charges.

"I can confirm that we are investigating an incident," said spokesman David Hawley.

"I am not in a position to elaborate further on the extent of the cyber security incident."

The New York Times said IMF staff had been told of the intrusion on Wednesday by e-mail, but that the Fund had not made a public announcement.

The e-mail warned that "suspicious file transfers" had been detected and that an investigation had shown a desktop at the Fund had been "compromised and used to access some Fund systems".

There was "no reason to believe that any personal information was sought for fraud purposes," it said.

High profile breaches

A cyber security expert told Reuters the infiltration had been a targeted attack which installed software designed to give a nation state a "digital insider presence" at the IMF.

"The code was developed and released for this purpose," said Tom Kellerman, who has worked for the Fund.

Bloomberg quoted an unnamed security expert as saying the hackers were connected to a foreign government. However, such attacks are very difficult to trace.

The World Bank said it briefly cut its network connection with the Fund out "an abundance of caution".

"The World Bank Group, like any other large organisation, is increasingly aware of potential threats to the security of our information system and we are constantly working to improve our defences," said spokesman Rich Mills.

The incident is the latest in a string of high-profile cyber security breaches.

In April, the Sony Playstation network was shut down after hackers stole the personal data of about 100 million accounts and in May, US defence firm Lockheed Martin said it had come under a significant cyber-attack.

CIA Director Leon Panetta told the US Congress earlier this week that a large-scale cyber attack which would cripple power, finance, security and governmental systems was "a real possibility in today's world".

IMF calls for dollar alternative

By Ben Rooney, staff reporter February 10, 2011: 4:37 PM ET

NEW YORK (CNNMoney) -- The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world's reserve currency.

The IMF said Special Drawing Rights, or SDRs, could help stabilize the global financial system.

SDRs represent potential claims on the currencies of IMF members. They were created by the IMF in 1969 and can be converted into whatever currency a borrower requires at exchange rates based on a weighted basket of international currencies. The IMF typically lends countries funds denominated in SDRs.

While they are not a tangible currency, some economists argue that SDRs could be used as a less volatile alternative to the U.S. dollar.

Dominique Strauss-Kahn, managing director of the IMF, acknowledged there are some "technical hurdles" involved with SDRs, but he believes they could help correct global imbalances and shore up the global financial system.

"Over time, there may also be a role for the SDR to contribute to a more stable international monetary system," he said.

The goal is to have a reserve asset for central banks that better reflects the global economy since the dollar is vulnerable to swings in the domestic economy and changes in U.S. policy.

In addition to serving as a reserve currency, the IMF also proposed creating SDR-denominated bonds, which could reduce central banks' dependence on U.S. Treasuries. The Fund also suggested that certain assets, such as oil and gold, which are traded in U.S. dollars, could be priced using SDRs.

Oil prices usually go up when the dollar depreciates. Supporters say using SDRs to price oil on the global market could help prevent spikes in energy prices that often occur when the dollar weakens significantly.

The dollar alternatives

Fred Bergsten, director of the Peterson Institute for International Economics, said at a conference in Washington that IMF member nations should agree to create $2 trillion worth of SDRs over the next few years.

SDRs, he said, "will further diversify the system."

The 'Age of America' is ending

The 'Age of America' is ending

China will surpass the US as the world's largest economy soon -- sooner than most people expected, according to an IMF report.

By Kim Peterson on Mon, Apr 25, 2011 2:36 PM

The "Age of America" is ending in just five years.

That's according to forecasts from the International Monetary Fund, which has set 2016 as the year when China's economy officially surpasses that of America as the world's largest.

To put this into perspective, only 10 years ago the U.S. economy was three times the size of China's, according to Brett Arends at MarketWatch. We knew this was coming, but this is the first time the IMF has put an actual date on it. "Most people aren’t prepared for this," Arends writes. "They aren’t even aware it’s that close."

The Daily Mail puts it starkly: "Whoever wins the 2012 presidential election will have the dubious honour of presiding over the fall of the United States." Even at its peak, Japan only had half of America's economic output, the Mail adds, and the USSR produced only a third.

If you look solely at the gross domestic output of the U.S. and China using current exchange rates, you wouldn't see this coming, Arends writes. That's because China works hard to undervalue its currency.

The IMF analyzed something different: "Purchasing power parity." Or, the amount people earn and spend in their economies.

Using this yardstick, China's economy is set to zoom from $11.2 trillion this year to $19 trillion in 2016, Arends writes. The U.S. economy will rise as well in that period, but only from $15.2 trillion to $18.8 trillion.

And the U.S. portion of the world economy drops to 17.7%, which Arends writes is the lowest in modern times.

The Telegraph notes that the IMF report comes a few days after Standard & Poor's sounded a warning shot over America's debt status. The U.S. federal debt has hit World War II levels, and Medicare, Medicaid and other entitlement liabilities are five times the annual GDP.

"It is premature to write off America as the world’s dominant superpower, for this is a nation that possesses an extraordinary ability to rebuild itself after periods of decline," writes Nile Gardiner. "It remains a beacon of hope to billions across the world, a 'shining city upon a hill' built on the ideals of liberty and freedom, as Reagan reminded the American people before he left office."

So what's next? Will India and its gangbuster economy eventually pass the U.S. for second place? Will the U.S. dollar be replaced as the world's dominant reserve currency?