Thailand Pledges to Give More to IMF as United States Refuses

 

While the US is constantly harping on about how much money it gives or loans to international organizations, it’s not necessarily true. In fact, when you look at GDP per capita, the United States actually gives far less money than do many European countries, and some Asian ones too. That is why, when the United States announced it will not be increasing its contributions to the IMF (International Monetary Fund), it wasn’t too surprising.  What was surprising, however, was that Thailand has announced the IMF can count on them giving more.




Along with Indonesia and Malaysia, Thailand announced this week they will pledge more money to the IMF this year, as they believe it plays an important role in the stability of the global economy.  In a joint statement, Indonesia, Malaysia and Thailand said this week, “The ASEAN region has a strong interest and stake in stable global growth. We support the broad-based international cooperative effort to increase the resources of the IMF for precautionary and crisis resolution purposes. Indonesia, Malaysia and Thailand will undertake the necessary domestic consultations to join this international effort.”

Yay for Thailand (and Indonesia and Malaysia, of course), and what an embarrassment for the United States, who now look like the cheapskates on the block, especially when even China has said they will be increasing the amount they give.