IFIs Latin American Monitor - December, 2006


-> 1. Events
-> 2. News
-> 3. Reports
-> 4. Statements
-> 5. Campaigns
-> 6. Special websites


-> World Social Forum (WSF) 2007 - Nairobi
Since the first world Social Forum encounter in 2001, the WSF has taken the form of a permanent world process seeking and building alternatives to neo-liberal policies. This year the Forum will take place in Nairobi, Kenya from 20 to 25 January 2007. Civil society organization that will participate are preparing a huge number of activities related with IFIs.


-> Follow-up to Norwegian Government’s Conference on IMF and World Bank conditionality
Nicaragua is about to negotiate its fifth programme with the IMF. This programme will be decisive to determine whether Nicaragua manages to achieve the MDGs and national goals in the areas of education, health, water and sanitation, housing, etc., and whether it manages or not to recover basic prospects for future development. However, IMF policies aimed at constraining public spending and domestic demand have a depressing impact on the economic activity and employment, and their excessive focus on inflation control ends up sacrificing growth possibilities.
Source: Coordinadora Civil

-> Will the IMF swallow its own medicine?
The news that the IMF would be selling an exorbitant amount of gold, must have caused agitation within the international financial community as well as in Peru among certain mining business circles. The main reason for this apparently desperate measure lies in the IMF’s growing deficit, which threatens to reach unsustainable levels within a few years. How come the ‘lender of last resort’ has financial difficulties?. If such a way out is not feasible, the IMF must find an alternative. (pdf format)
Author: Jürgen Schuldt
Source: La Insignia

-> Bank focus on growth often leaves poor behind
The World Bank's own auditing arm has confirmed what many anti-poverty campaigners have long been saying: the Bank's projects did not adequately reduce poverty levels in borrowing nations over the past five years. In a report, the Independent Evaluation Group (IEG) said that the Bank has focused too narrowly on economic growth, leaving unemployment and poverty rates to stagnate or worsen.
Source: IPS

-> New subnational lending program - World Bank Group
A new pilot Subnational Development Program (SND) of the World Bank and the International Finance Corporation has projected commitment of $800 million over three years (2007 to 2009). The Bank loaned $2.8 billion to subnational infrastructure projects in fiscal year 2005, but the Bank's Articles of Agreement have prevented it from lending directly to subnational entities. The program is aimed at middle-income countries, such as Brazil, China, India, Mexico, Poland, Russia and South Africa.
Source: Citizens' Network on Essential Services


* 2006 Overview for Latin America: delegitimized IFIs looking for survival
As 2006 came to an end it is now possible to point at the highlights of the year for Latin America with regards to IFIs. Among the major highlights are: the International Monetary Fund (IMF) is still in crisis and loses clients in the region; the World Bank seeks legitimation through the fight against corruption; and the Inter-American Development Bank (IDB) gives priority to infrastructure projects and analyzes debt cancellation for the poorest Latin American countries.
Source: IFIs Latin American Monitor

* The IMF today and tomorrow some civil society perspectives
The question regarding the IMF for many civil society organizations is whether the organization is worth salvaging. Certainly the IMF is in trouble. Jo Marie Griesgraber and Oscar Ugarteche offer a North-South perspective on current problems and future prospects of the Fund. Ugarteche presents different civil society arguments for shrinking the IMF and changing its role while Griesgraber proposes far-reaching reform of the IMF towards a fair and effective system of global governance. (pdf format)
Author: Jo Marie Griesgraber and Oscar Ugarteche
Source: Journal of Global Governance

* IMF identity crisis
The evidence that its members states are seeking to escape from the International Monetary Fund’s "jurisdiction" continues to mount. Unless the IMF implements a comprehensive governance reform program, it is unclear that it will ever be able to effectively contribute to solving the complex monetary and financial challenges or the problems of poverty, inequality and inadequate governance which plague our world today. Fortunately, the current crisis of confidence in the IMF creates a good opportunity to persuade the IMF to adopt its most important elements.
Source: Foreign Policy In Focus

* Renewed enthusiasm for debt swaps
On 26 and 27 November Eurodad, Latindadd and Afrodad were invited to participate in the first meeting of an international working group established by UNESCO to explore how to promote the far greater use of debt swaps and best practices in these operations. The first meeting brought together a range of government officials from creditor and debtor nations, education experts, representatives of multilateral development banks and civil society experts.
Source: Eurodad


* IDB decides whether to contribute to debt cancellation until December 21, by Latindadd (pdf)

* Latin American CSO send to IDB a second letter on debt cancellation (pdf)

*** All Statements


-> International campaign against IMF conditionalities
Coordinadora Civil, Intermón Oxfam and others NGOs around the world are launching an international campaign, requesting the IMF to put an end to conditionalities on Nicaragua and establish an open dialogue on these restrictions. The success of this initiative could lead to a profund analysis of the demands imposed by IFIs on poor countries.

-> The IMF: Shrink it or sink it - A consensus declaration and strategy paper
The current moment, when the IMF is most vulnerable owing to its triple crisis, is the most opportune time to launch a campaign to disempower it-to "shrink," if not decommission it.
Source: Focus on the Global South

*** All Campaigns


-> Rios Vivos Coalition
Rios Vivos Coalition is one of the most important Latin America's networks. 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.

*** IFIs Monitor is an active member of IFIwatchnet. See http://www.ifiwatchnet.org

*** NGOs directory


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