Transcripts For CSPAN Key Capitol Hill Hearings 20140411 : v

CSPAN Key Capitol Hill Hearings April 11, 2014

Authorities deliver on their ommitment, which we have every reason to believe they will. Gentleman in the middle . Chris giles from the financial times. Madam, the i. M. F. Regularly gives other countries advice and cause for a plan b, most recently asking the e. B. Foment give effort on things. Is it time now for a plan b. For the i. M. F. Where you circumvent the u. S. . You know, i dont think our institution should move to plan until we have full certainty that plan a is definitely dead. Im not prepared to declare that that the point. And i very strongly hope that he results of the institution, the pressure brought to bear by the members of this institution on all those who have not yet ratifying will deliver fruit in the not too distant future. Ok. Going to say stay in the middle. Lady in the white jacket. Thank you. My question is about japan. Your projection with lower with 0. 3. And do you still believe in economics . If so, why . Especially third al lowe since not working well, do you have any concerns when you meet minister aso this afternoon, what do you expect from him and when that do you recommend him . Thanks. Well, i listen very do i feel his description of the three air owes. And they were described by former Prime Minister about demull various meetings. Fair to say that the first arrow has been delivered and begown work and we see in situations not rising to targets but specifically in japan. We were interested to see when the fight was continued as of april 1. On that second arrow, we also believe the medium terms, physical plan needs to be articulated and convincing. We hope to see them. On the third arrow. There are many reforms, many presents of a instruct wall ture that havent yet been eye tookically. And off meeting with minister azull. I will certainly ask what the timetable is and what the accent of the reforms is. I will particularly focus on the presm reform of the labor market in order facilitate services for japanese women to the stock market. Because we believe its a strong component of the theme before. Clearly the authorities have signaled interest and responded to recommendations. Which i was very pleased about. And i will not give up on that. Ok. Thank you. Going to come down to the front row here. Yes, maam. Thank you. Thank you. There was impressive demand for a fiveyear goal issued. Today returning to the markets but the i. M. F. Program is ongoing and night get a sustainable . Thriggete and when do you expect it to be concluded . It is the case that greece is still in the program. And that we have just recently apoved a approved a review of the program which shows after significant discussions and work being done by the greek authorities and greek people, progress is under way. I see the issuance that to place today, that was borg described in the direction and that they are listening the Water Testing and the Water Testing authorities wanted to do is really eff successful. Now, there is still a lot to be done. Program is not over. But the s a near return to markets which is clearly the objective of any i. M. F. Program is on the horizon. Ok. Im going to stay here. My name im with the ruggets news agency. Madam. I have all ukraine in russia. I do ly, fist i guess know quite informations. Do you tonight bierbrodt have especially elftalk those. So my question is, is the new program, is it intended to provide specifically for grew crane to be cut into this bill for russia, to russia . That is to paying their ears and being dourned that payment. Thank you. You know, the Ukrainian Program of project offer program, 1234r9 because it will be a program at once board has approved it. Has been negotiated on the grounds. Has been discussed in form tiff with the board, and there has been encouraging, very broad based support from all corners f the i. M. F. The range of financing is going to be predicated on what the International Support will be to that country. Whether on a bilateral daves and thats the world full of interest. For the moment, what we are forecasting is ooh financing velope rangeing from 14 billion 18 billion u. S. That includes room for appropriate payment of you know, anything that is a legitimate area. Right . To any creditor. I think that answers your question. Thank you very much. Swinging back around here. Yes, maam. Right here. I would thank you to tv clearly before when we had this meeting but one year later the driving sports the still clearly declining. So whats your answer to this kind of a ship and policywise what do you think american markets can do in order to gain the momentment and be here for the resilience . Thank you cough. I would not call it a shift. Because it is today that the bulk of growth is generated by the emerging markets. So this story about the emerging markets lagging behind and slowing down and having lost their moment sum a little bit overdone. They are still providing the bulk of growth. Moment as s yes, the moment i would have at the moment. I wouldnt called it a shift, though. I would call it rebalancing. Having said that, citizens tapering talk in may the emerging markets have been under some pressure, and we have observed volatility. Ich has had an effect dash snaunt on some of 24e7. Which has since ben especially. By the various policy measures taking place that country. And they raj from one to another depending phenomenon columnization of those but from the money point and indonesia on the whole scope of tools player to the policy liesing. Clear live there continue to be a need for constant attention to avoid the consequences of volatility. But volatility is something we are going to have to live with. We have been massively protected over the past few years because of thunding pray pid. By that i mean and launched by several banks. This is normalized over the course of time. As the economy bounces back. Ok. Thank you very much. Im going to take from yes, sir. With the glasses, you sir. Yes, sir. Thank you. Ok. Who has got this . Everyone. Thank you very much. My name is the al shop did from the african in u. S. Of har modties. We fall or witness to claration whereby nigeria canner n, outside the bear by. And which before that. Everybody is a witness to what happened between the federal government and the central bank. Well, noignige may not have anything to do right now with the fund 8. 5. But ninth nige is only on isolated cases in spot for two. This is a behind teem cut me now. You know . Cut me now . Im sorry, circus do you have a question . Exactly. To the question. Where the government tends to victimize with but then government comes to the de pebbeds to put a proposal for a grant and stuff. This case, has there been found any upper hand to play the superpower . By word i can condition formalities . I think its a very important question that you raise. And i can assure you that there are cases when countries would not in a single african country would not single out another african country. When Companies Come from where we have that dialogue with the authorities at or about authenticity, the evidence relating to contracts to licenses, the ways in which business has been conducted and there has been instances and my watch where we have said about the circumstances under which such contracts and mining legs with vet for. And i can assure you that it is efficient. All right. And i applaud any instances when authorities in africa or elsewhere actually have the courage to step up and to dentify when they are shaky if not shady circumstances under which those rights are granded. There are same rules with the superback. We need to think of a short cup. Alexander from italy. There seems to be a different assess ment on the risks of attracted law formation and deflation and in european especially on the timing of the response. You just said there was anonymity on the other measures but several come poventse of the e. C. B. Also said these would not be imminent. To where as the lover said was the best of the timer. So they throon deliver later today when you meet them . Well, im on the same page as the chief economist. We have an ongoing delige dialogue with the european authorities and we highly respect the judgment of the central bank. They have a their finger on the pulse of everything. Nd we is that you they are utilizing any tools to respond to the situation. And i think its going to be a question of timing now. But we are encouraged. Yes, maam . Good morning, ms. Will he guard. Good morning. The question is about i. N. S. What will happen after the who refuses the agrease they i. M. F. Hich and typical ones about struggling with debt. And it is said here, but its a rumor that the i. M. F. Is supporting the possibility of legislativing off theing ament of the collective actual class of stative. I think you would be good there fter the crisis of neighborhood and during the support of his way. Helping with escape. Could you please tell us about it. We dont comment on rumors, but i am not going to leave you with that, its a bit sort. Its i think its clear to everybody that the collective apply lauses as they prove to have deficiencies and we certainly realize that when we dealt with the greek sovereigns debt reinstructturing. So what do we do . Sit and wait . Or we try to work in cooperation with the ores to see how they can be improved. I think our duty so going to et enough this week to look at considerations on how they can be reviewed and submit them to board review. We have been tough by the board to actually restore them. Now, i want to dismiss the idea that we would be heading in the direction of what some of you have been around for a long me known as the s. C. R. M. , in as the c. R. M. . Well we are not heading in that direction. But are we working on the efficiency of it and how we can sufficiently deal with those mat centers we have to. I think we are almost out of time. Last question. You, sir. I think i am governness ive already touched on that issue. I think about flying to ooh report planet. Yes, sir . Hello. Please allow me to ask my uestion in french. I am from france and want to know how was your meeting with of prime f government minister and how is he going to be doing a census. And its the first time in a long time since its been genders that you will be planning for me. Is he there 2014 and what are you saying when the i. N. S. Monday . French then i will summarize this english so everyone understands what i tell you. First of all, the Prime Ministers visit with was a success as i see it, becauses a new Prime Minister he was able to explain to us his plannings, the reforms he plans to put in place by his government on behalf of the country. T its not the just the i. N. S. Reforms but the informenses he was quite struck by the his determination to implement reforms. To move the country forward. To modernize the country. To variety indianize. And i hope that we will continue to be able to work together. You know he has an i. N. S. Program which we also completed as third in review. And substantial progress has been made. And i hope that we will be able to continue on this seed progress. This will continue to be a success story. Terms of the figures. Think the opportunity to see that the i. M. F. Use a lot to but it exists on the basis of fundamentals. So it doesnt mean we review our figures from daytoday. We do it on the basis of knowing figures and on the base that are online with ternational developments between a certain country and the latest countries. I was just thinking the Prime Minister of tunisias visit was a successful ooh its now the program of the i. M. F. For the population of tunisia. On attracting foreign dollar investments in very strong growth sectors. And in really moving towards investment for growth. Thank you niceya offers very much hope that out of the reviews of the program, that tunisia matured into those programs, it will be a success story, im convinced of it. He calls this country which i i dont prepare to see you until they rost a lot. The Atlantic County critical hosted a discussion today on the bit coin and the future of digital occurrencey. Thats live. Then later today treasury secretary will hold a press conference after the World Bank Meeting today live at 6 00 eastern. For over 35 years cspan brings Public Affairs events take over gton yoo and offer complete gaffle to gavel coverage at the house all as a service of proiftsthi industry. 35 years ago shts and brought to you as a Public Service by your local cable satellite performer. He has you like like of the International Development talks about the global epoverty. Senate hearing is 09 minutes. And chaired by senator bob men 911 dez. Senator bob menendez. You come at a time when you are doing nothing more than the job you were appointed to do. Let me say for the record that when it comes to the issue of cuba or your work in any closed society, i do not believe that a. I. D. s Mission Statement to promote resilient democratic societies that are able to realize their potential are in any way a cock maimy idea. I believe it is exactly what the people of cuba, iran, burma, belarus, North Carolina states r a thor contain need to communicate with each other. To have the quoted statement of aving a free, peaceful and fective legitimate life, but for helping them to find a way to connect and share their views. Global free programs, u. S. International broadcasting and support for human rights act visits are all on the mental side of the efforts to promote democracy overseas. For more than 50 years the United States has had an unwavering commitment to promote freedom of information in the world. Our work in cuba is no different than our efforts to promote freedom of expression access in ed belarus, china or north korea. It should be noted that in the fiscal year setting the foreign operations bill, theres 76 million set aside to promote Global International internet societies in closed societies like cuba, where the government allows no downtown point from press and also states that with respect of the decision for democracy, u. S. Rights and govern nance activities that these programs sthouled shall not be subject to the prior approval or any Foreign Government or country. Its common sense that we presently vocate tore provide unsensored access to the internet or social media. At the end of the day just giving people the opportunity to communicate with the outside world than with each other is in my mind a fundamental responsibility of any demock cri, the internet becoming the town square for the glob. But to go one step further the town square will become more free and inclusive thanks to the democracy efforts of organizations like u. S. Aid. And let me just close on this one point. I think it is dumb, dumb and even dumber to go ahead and suggest that there can be freedom, and we should seek freedom of Internet Access and freedom of expression globally but that some how the people of cuba dont deserve the same freedom. And i will finally say on this topic that theres only one instance only one responsible for the imprisonment of alan gross and thats the cuban regime. It is not this government. It is not a. I. D. It is the cuban regime. And i a m tired of blaming ourselves when the entity that should be blamed is the regime that unlawful holds an american in prison for doing nothing but having the Jewish Community cuba be able to communicate with each other. Pretty outrageous. Now, finally, with reference to the overall priorities of the budget, we look forward to your perspective on how we can make certain that u. N. And u. S. Development is in line and look forward to hearing your priorities for the 2015 budget. I know i speak for all the members when i speak of the creativity and energy and to your agencys pursuit to ways which focus on best practices and results. As we have discussed on numerous occasions before, we do, however, remain deeply concerned about the resources for the western hemisphere. They are instoust meet the challenges of the reason and important to our shared interest in health and development. So that is something that we look forward to continuing to engage you on. And while that is to towards criminal networks, pose the greatest short term effects in the region, a longterm strategy that boosts Economic Growth and consolidates a current law and in my view is better lacking. So i believe we can do better in the hemisphere, and i think we can do better in meeting within that context within the hemisphere. Look forward to the ongoing getting help for usaid. For the taxpayers and now i would like to treckeds ranking republican. Thank you mr. Chairman. And thank you for those passionate comments, and mr. Shot, we appreciate you being here and all the work you do around the womplt my comments are going to be a little more breefment we look forward to your testimony, but we appreciate you being here to go over your budget request for 201r5 and appreciate the reforms youre trying to put in place around the world but also within u. S. Aid itself. I think foreign aid is one of the most misunderstood concepts the American People have sometimes and the fact that we spend 1 of our overall u. S. Budget on foreign activities. Noncan i netic, i might add. But i would like for you sort of herald some of those skses. I know youre going to do that today, but i also believe its healthy to have some skepticisms to the program. To make the food programs much where we will i be dealing 30 with local entities, and in one way, thats a muchappreciated concept. On the other hand i know we want to make sure we have results on that. But the thank you for being here today. Certainly your questions and testimony and we thank you for your work. Administrative shore, the floor is yours. We will enter your full statement in without objection but summarizing in five minutes or so, so that members can have an opportunity to have a dialogue. Thank you chairman menendez and i want to thank you specifically for your very strong leadership and your support for Americas Development programs around the world and ensuring that they are a full reflection 06 our values. I want to thank all the members of the committee for your guidance, county counsel and support and im honored to be here to present the budget request for u. S. Aid which totals just about 20 million. This resource and investment is a score part of keeping our country safe and secure over the longterm and improving our o

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