The International Monetary Fund’s plan to refurbish its headquarters in Washington, D.C., is not sitting well with some development advocates.
IMF chief Dominique Strauss-Kahn has confimed that he would seek support from the fund’s member states to overhaul the main headquarters building. An IMF spokesman said the work cannot be deferred, the Guardian reports.
The fund recently financed part of the bailout packages for Greece and Ireland.
“At this precarious time for the world’s poor, the IMF has just earned at least [USD2 billion] … in extra cash from gold sales and now proposes upgrading its already opulent office building in Washington DC,” according to Melinda St. Louis, deputy director of Jubilee USA Network.
Pressure groups noted that the fund eight years ago spent USD150 million on a second building.
“Should the IMF get another stunning fountain at its headquarters or should countries in sub-Saharan Africa receive debt relief to invest in clean water for the most vulnerable? Rather than building more marble staircases in DC, the IMF should share its wealth with poor countries that desperately need those funds to build rural health clinics, schools and basic infrastructure,” St. Louis added.
