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WORLD NEWSSaturday 27 February 2016
IMF’s Lagarde, other G20 finance
VIPs urge swift action on reforms
Thomas ‘Slab’ Murphy arrives at a court in Dublin where he will be sentenced Friday Feb. 26, 2016. Mur- JOE McDONALD len; China’s finance min-
ERIKA KINETZ ister, Lou Jiwei, and cen-
phythelongtimechief ofthe outlawed IrishRepublicanArmyhasbeensentencedto18monthsinpris- The Associated Press tral bank governor, Zhou
SHANGHAI (AP) — Offi- Xiaochuan; Mario Draghi
on for tax evasion after police found a fortune in fuel-smuggling proceeds hidden on his border farm. cials at a global finance of the European Central
meeting Friday urged Bank and their counter-
(Niall Carson/PA via AP) governments to speed parts from Europe, South
up promised job-creating Korea, India and South
Veteran IRA chief ‘Slab’ Murphy faces prison reforms instead of rely- Africa. Global growth is
ing on stimulus to perk up at its lowest in two years
SHAWN POGATCHNIK been successfully prose- ing those bomb attacks. A slackening growth. and forecasters say the
Associated Press cuted for any crime. Dublin jury in 1987 rejected The clouded global out- danger of recession is ris-
DUBLIN (AP) — The longtime Murphy’s farm straddles Murphy’s suit and judges look has upped pressure ing. The IMF cut this year’s
chief of the Irish Republican Northern Ireland and the ordered him to pay the for reassurances and ac- global growth forecast
Army, one of the outlawed Republic of Ireland and newspaper’s legal costs. tion from the finance min- by 0.2 percentage points
group’s most feared and an escape tunnel runs be- He refused, but also lost a isters and central bankers last month to 3.4 percent.
secretive figures, received neath the property in each subsequent 1998 appeal gathered in Shanghai for It said another down-
an 18-month prison sen- direction. He admitted he during which two former a meeting of the Group grade is likely in April.
tence Friday for tax evasion filed no tax returns in either IRA members described of 20 major rich and Central banks still have
a decade after police dis- country from 1996 to 2004, their meetings with him as a emerging economies. But room to use interest rate
covered a fortune hidden but claimed to have no de- member of the IRA’s seven- the leaders have sought cuts and other stimulus
inside hay bales on his bor- clarable income of his own man Army Council. One, to squelch expectations but need governments to
der farm. as other family members Sean O’Callaghan, still lives the meeting will produce follow through with prom-
Thomas “Slab” Murphy, 66, handled all business affairs. today in hiding under IRA specific growth plans. ised economic changes,
denied all charges against South Armagh, midway death threat. The other, Christine Lagarde, the said Mark Carney, head
him and vowed to appeal between Dublin and Bel- Eamon Collins, tried to live managing director of the of the Bank of England.
the verdict at Ireland’s Spe- fast, is renowned as “ban- openly and without securi- International Monetary “Global growth has dis-
cial Criminal Court, a three- dit country” because of its ty near South Armagh and Fund, said governments appointed because the
judge panel that hears long traditions of smuggling was beaten to death in should act faster on re- innovation and ambi-
IRA-related cases without and guerrilla activity. IRA January 1999. A spike was forms promised at a G-20 tion of global monetary
a jury because of the risk of units built vehicle bombs driven into his face. meeting in 2014. That policy has not been
intimidation. His statement and mounted ambushes Murphy could have faced list included some 800 matched by structural
called media reports of his on British security forces up to five years in prison and commitments meant to measures,” Carney said
wealth and IRA involve- there with relative impunity a 100,000 euro ($110,000) simplify regulations and at the IIF event. “In most
ment “utterly untrue.” throughout the IRA’s failed fine for the tax evasion, boost trade, investment advanced economies,
Irish analysts have drawn 1970-1997 campaign to but judges said they had and technology devel- difficult structural reforms
parallels between Murphy’s force Northern Ireland out taken his age and lack of opment, but many have have been deferred.”
prosecution for tax fraud of the United Kingdom. previous criminal record yet to be carried out. Germany’s finance minis-
with the case of Chicago In 1985, following a string of into account. They ruled “Policymakers do not ter, Wolfgang Schauble,
crime boss Al Capone, who IRA attacks in England, Mur- he must pay 189,965 euros need to invent yet an- said fiscal stimulus has
likewise avoided convic- phy launched a libel lawsuit ($208,950) in taxes and in- other trick, but they need “reached its limit” and
tion for his gang’s many kill- against a British newspa- terest payments. to deliver steadily on the his government will not
ings but couldn’t account per, the Sunday Times, that The judges’ stressed that his commitments they have agree to more coordinat-
for his wealth. Until now, identified him as the IRA punishment must reflect his made,” Lagarde said at ed spending in the event
Murphy has been arrested godfather in South Arma- status as a farmer, not an an event organized by of further deterioration
several times but has never gh responsible for direct- IRA figure. q the Washington-based in the global economy.
Institute of International He urged other countries
Finance alongside the to deliver on reforms in-
Shanghai meeting. stead.
Referring to monetary “We are not lacking in
and fiscal policy and policy proposals,” he
structural reforms, La- said. “We are lacking in
garde said, “There has to policy implementation.”
be action on all fronts.” Lew said Washington
Others at the meet- wants G-20 govern-
ing include U.S. Treasury ments to reaffirm pledg-
Secretary Jacob Lew es to avoid weakening
and Federal Reserve their currencies to boost
Chairwoman Janet Yel- exports.q
