In Case You Missed It: "The Effort by Mr. Wallace's Group to Pressure the I.M.F. Could Represent a New Challenge to Iran"

In Case You Missed It: "The Effort by Mr. Wallace's Group to Pressure the I.M.F. Could Represent a New Challenge to Iran" UANI's IMF Campaign Profiled by The New York Times Group Seeks Suspension of Iran From I.M.F. By Rick Gladstone The New York Times May 2, 2012 An American advocacy group that has successfully pushed to isolate Iran economically through sanctions and business boycotts opened a new front in that effort on Tuesday, seeking to pressure the International Monetary Fund to withdraw all its holdings in Iran's central bank or to suspend Iranian membership. The advocacy group, United Against Nuclear Iran, also castigated the fund's managing director, Christine Lagarde, over what it called her inappropriate compliments for Iran's central bank, known as Bank Markazi, and its governor, Mahmoud Bahmani, at the meetings of the International Monetary Fund and World Bank in Washington last month. Ms. Lagarde had described the Iranian government's effort to eliminate costly economic subsidies as a constructive step worthy of emulation, and the compliments were widely reported in Iran's state-run media. "The I.M.F. should not be hosting Iranian delegations in the U.S. and elsewhere, and Ms. Lagarde should stop lavishing praise on Iran and Bank Markazi," the chief executive of United Against Nuclear Iran, Mark D. Wallace, said in a statement announcing its new effort. Iran is one of the earliest members of the 188-nation I.M.F., founded in the aftermath of World War II to help strengthen monetary cooperation and stability through lending and economic data-gathering. Although Iran has not done any financial transactions with the I.M.F. since January 1984, according to the I.M.F. Web site, membership is regarded as a valued symbol of international legitimacy and respect. In a letter to Ms. Lagarde dated April 26, Mr. Wallace, a former American diplomat at the United Nations, said the I.M.F. should close what he described as an I.M.F. account worth more than $1 billion held in the central bank, which has been penalized by the United States and European Union. Mr. Wallace said the bank had been shown to be untrustworthy, violating the I.M.F.'s own standards and safeguards. "I don't have a grudge with the good people of the I.M.F.," Mr. Wallace said in a telephone interview. But, he said, "it can't be business as usual anymore." William Murray, a spokesman for the I.M.F. in Washington, said in a statement that the fund's holdings in Iran's central bank are part of the arrangements made with any member, and that the account is denominated in Iranian currency, not dollars. "There is nothing in the E.U. or U.S. sanctions regimes that is inconsistent with these arrangements," he said. As for the call for Iran's suspension, Mr. Murray said, "This is a matter that is best taken up with the fund's member countries. We have no comment." Under Article 26 of the I.M.F. Articles of Agreement, suspension of an I.M.F. member's voting rights requires approval from a 70 percent majority of the total voting power among the other members, which is weighted partly according to their economic size. A Treasury Department spokesman in Washington, John Sullivan, said that the United States regarded the I.M.F. as exempt from sanctions on Iran's central bank. Michael Mann, a spokesman for the European Union's foreign policy chief, Catherine Ashton, was quoted by Bloomberg News as saying the I.M.F. is not subject to E.U. sanctions. There was no immediate comment from Iran. But the effort by Mr. Wallace's group to pressure the I.M.F. could represent a new challenge to Iran, coming as all sides in the protracted dispute over Iran's uranium enrichment program have been toning down inflammatory rhetoric in recent weeks and speaking with a measure of optimism about a possible diplomatic resolution. Talks held in Turkey last month were described as positive by Iran and the group of six world powers seeking to stop Iran from enriching uranium that could be used to make nuclear weapons. But Iranian officials have also said the Western sanctions should be eased as a sign of good will, and have hinted their mood could darken if new efforts to isolate Iran were introduced. Talks are set to resume in Baghdad on May 23. Click here to read the article at The New York Times's website. Click here to read UANI's full letter to IMF. Click here to send a message to IMF. ### United Against Nuclear Iran (UANI) is a program of the American Coalition Against Nuclear Iran, Inc., a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. The prospect of a nuclear-armed Iran should concern every American and be unacceptable to the community of nations. Since 1979 the Iranian regime, most recently under President Mahmoud Ahmadinejad's leadership, has demonstrated increasingly threatening behavior and rhetoric toward the US and the West. Iran continues to defy the International Atomic Energy Agency (IAEA) and the United Nations in their attempts to monitor its nuclear activities. A number of Arab states have warned that Iran's development of nuclear weapons poses a threat to Middle East stability and could provoke a regional nuclear arms race. In short, the prospect of a nuclear armed Iran is a danger to world peace. United Against Nuclear Iran (UANI) is a non-partisan, broad-based coalition that is united in a commitment to prevent Iran from fulfilling its ambition to become a regional super-power possessing nuclear weapons.  UANI is an issue-based coalition in which each coalition member will have its own interests as well as the collective goal of advancing an Iran free of nuclear weapons. The Objectives of United Against a Nuclear Iran Inform the public about the nature of the Iranian regime, including its desire and intent to possess nuclear weapons, as well as Iran's role as a state sponsor of global terrorism, and a major violator of human rights at home and abroad; Heighten awareness nationally and internationally about the danger that a nuclear armed Iran poses to the region and the world; Mobilize public support, utilize media outreach, and persuade our elected leaders to voice a robust and united American opposition to a nuclear Iran; Lay the groundwork for effective US policies in coordination with European and other allies; Persuade the regime in Tehran to desist from its quest for nuclear weapons, while striving not to punish the Iranian people, and; Promote efforts that focus on vigorous national and international, social, economic, political and diplomatic measures. UANI is led by an advisory board of outstanding national figures representing all sectors of our country.

Forward email Update Profile/Email Address | Instant removal with SafeUnsubscribe™ | Privacy Policy. American Coalition Against Nuclear Iran | 45 Rockefeller Plaza | New York | NY | 10111