IFIs Latin American Monitor - June, 2006


-> 1. News
-> 2. Reports
-> 3. Statements
-> 4. Campaigns
-> 5. Special websites


-> Mexico follows the trend: it makes early payments to the World Bank and IDB, thus increasing its domestic debt
Ten days ahead of Mexico’s presidential election, the federal government announced the early payment of 7 billion dollars to the World Bank and Inter-American Development Bank (IDB), through the use of international reserves. This decision follows the prevailing trend in Latin America, that of external unindebtedness; thus, Brazil, Argentina, Venezuela and Uruguay did so in less than a year’s time.
Source: IFIs Latin American Monitor

-> What have G8 Finance Ministers discussed?
On June 10-11, G8 Finance Ministers met in St. Petersburg, Russia, in preparation for the next summit of G8 Presidents to be held on July 15-17. The presidents of the World Bank and IMF, among others, were invited to participate in the event. Global financial stability, the issue of energy and the new role of the IMF were included in the agenda.
Source: Rede Brasil

-> External debt audit: Why? What for?
Debt auditing is among top issues on the agenda of Latin American social movements working in favor of a legitimate and sustainable external debt. The Citizen Commission on Public External and Internal Debt Auditing (CCADE, per its abbreviation in Spanish) organized an international seminar in Uruguay to share different views and experiences on this issue.
Source: IFIs Latin American Monitor

-> The role of the World Bank in the educational reform in Chile
The Chilean student movement which shook the country during a month and now seems to be recessing is a local issue that has gained international attention. Among all the political reverberations caused by the student movement - mainly organized by the secondary school sector - the strong gravitation of the World Bank within the education reform process in Chile has been absent from debate.
Source: Argenpress


* Has the World Bank changed? – A view from Guatemala
The World Bank Report "Poverty Reduction and Growth: Virtuous and Vicious Circles" is presented as a new way in the form an economy is run. Such paper refers to the progress and needs of the economy. It raises as focal point the need to fight poverty and provide those most in need with better living conditions. It is quite surprising for the World Bank to point out that the new policy to be followed in the region from now on would be one resulting in palpable benefits for the poor.
Source: Incidencia Democrática

* World Bank and IMF conditionality: a development injustice
New Eurodad research that examines World Bank and IMF lending in twenty impoverished countries finds that countries still face a high and rising number of conditions in order to gain access to these funds.
Source: Eurodad

* IIRSA: Integration custom-made for international markets
The project for Integration of South American Regional Infrastructure (IIRSA) is swiftly but silently moving forward. IIRSA is the most ambitious and encompassing plan to integrate the region for international trade. If completed in full, the project would connect zones containing natural resources with metropolitan areas, and both of these with the world's largest markets. The project will be financed by the IADB, the Andean Promotional Corporation, the Financial Fund for the Development of the Rio de la Plata Basin and the Brazilian Development Bank.
Source: IRC Americas Program

* Bretton Woods reform: sifting through the options in the search for legitimacy
Hardly a day seems to go by without the future of the IMF being questioned by key insiders. NGOs and academics have been writing on Bretton Woods reform for years, so why the sudden interest by policy makers and by the management of the institutions themselves? This paper reviews the challenges facing the IMF and its continued raison d’être and then focuses on two current proposals to change formal representation on the Board. Whilst seemingly mundane and complex to the outsider, these are actually critical to addressing the larger question of accountability and legitimacy. (pdf format)
Source: Overseas Development Institute (ODI)

* Debt relief as if people mattered
Debt sustainability has, until now, been narrowly assessed according to a country’s ability to pay in terms of its export earnings – regardless of other demands on public funds. This prevents governments in many developing countries meeting the basic needs of their citizens. . A new approach to debt sustainability is urgently needed in order to reduce poverty and promote sustainable development. This research paper seeks to develop the concept of debt sustainability on the basis of human rights.
Source: New Economics Foundation


* IMF response to Oxfam-Intermon’s letter to IMF Rodrigo Rato
Source: Coordinadora Civil

*** All Statements


-> Urge your representative to cancel Haiti’s debt!
Urge the World Bank, International Monetary Fund (IMF), Inter-American Development Bank (IDB), and other international financial institutions to completely cancel Haiti’s debt without delays!
Source: Jubilee USA Network

-> Call for global action against IFIs
At the 2nd South - North International Consultation on Resistance and Alternatives to Debt Domination, representatives of movements and organizations from more than 50 countries agreed on four joint initiatives for the coming years. One of these is the Call for International Actions Against the IFIs in 2006.
Source: CADTM

*** All Campaigns


-> Rios Vivos Coalition
Rios Vivos Coalition is one of the most important Latin America's networks. Besides the local support, it counts on the help of members of NGOs from Europe and United States. Rios Vivos believes in the need of a profound analysis of the current developmental paradigm responsible of promoting infra-structural projects, looking for alternative sustainable development answers for each region. The coalition is developing a program about IFIs and their social control.

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IFIs Latin American Monitor welcomes suggestions of research reports, campaign actions, etc to announce on this list. Please send brief summaries of long texts, and links to where they are available on-line.

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IFIs Latin American Monitor

  IFIs Latin American Monitor
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