IFIs Latin American Monitor - September, 2007


-> 2. Special coverage
-> 3. Events
-> 4. News
-> 5. Reports
-> 6. Statements
-> 7. Campaigns
-> 8. Special website


* Programmes and loans designed and controlled by IFIs play a powerful role in shaping the economic trajectories of many countries in the Global South. We all have something to say on these issues. We invite you to add your comments and opinions in all the news and reports published on our website. Your opinion is important to us!


-> IFIwatchnet weblog: IMF leadership selection process
Mr. Dominique Strauss-Kahn was finally named by consensus to head IMF September 28th, and he will take office November 1st.
For the whole story check: http://www.ifiwatchnet.org/?q=es/featured_blog/336


-> World Bank/IMF Annual Meetings - Washington D.C., 20-22 October 2007
The 2007 Annual Meetings of World Bank and International Monetary Fund (IMF) will be held over a 3-day period, from October 20 to 22, at the WB and IMF headquarters in Washington D.C. Civil society groups are organising events from October 18. Also, citizen actions and mobilizations will take place worldwide, as part of the Week of Global Action vs. Debt and IFIs.

Check the IFIwatchnet coverage during the annual meetings season and keep yourself informed with day to day updates and analysis!


-> Bad business
The World Bank has recently released 2007 report "Doing Business", and its conclusions are one more time not "surprising". If a country wants to "progress" it should make it easier to fire workers, cut or eliminate severance payments and replace this cost on employers for unemployment insurance payed by workers, eliminate the ban on night work for women and children, where applicable, and even the eight-hour work shift, among other things.
Source: Third World Network

-> After all, Strauss-Kahn named to head IMF
Mr. Dominique Strauss-Kahn was finally named by consensus to head IMF on Friday 28th. DSK won before Josef Tosovsky, promoted by Russia, and will take office November 1st. By that time the Frenchman was in Chile, working to increase the official support to his candidature. At the last minute Brazil, Argentina and Chile gave DSK their official support.
Source: IFIs Latin American Monitor

-> GAP details serious issues with World Bank's anti-corruption unit
In a report released on September 6th, the US NGO Government Accountability Project (GAP) found that the World Bank's Department of Institutional Integrity (INT) is undermined by a conflict of interest at its top ranks and serious long-term problems. After that, a panel created to review the work of the World Bank's anti-corruption unit released its own 40-page report.
Source: Bank Information Center

-> World Bank to study offshore
The World Bank had refused until now to try to measure seriously the tax haven problem. Norway therefore had indicated its intention to commission and pay for a World Bank report on illicit financial flows. However, Zoellick, the World Bank's new president, said recently that "a study of the development impact of off-shore financial centers would be a valuable contribution to the governance and anti-corruption agenda," and that the Bank would be pleased to collaborate with Norway on taking this forward. TJN has been pushing for this.
Source: Tax Justice Network

-> Activities on illegitimate debt in Quito: the Ecuadorean case at the core of debate
Representatives of social movements and civil society networks and organizations from Latin America and the Caribbean met in Quito - Ecuador’s capital - in the past month of August, to participate in two important events related to the issue of illegitimate debt. The hopeful atmosphere prevailing in Ecuador since the set-up of the Commission for a Comprehensive Audit of Public Debt (CAIC, in Spanish) by the government of president Rafael Correa, was the main fuel for both meetings.
Source: Rede Brasil


* Gender in economics
Notwithstanding the fact that economic, trade and labour policies have differentiated impacts on men and women, the concept of gender has been systematically ignored by the analysis and formulation of these policies. The structural adjustment programmes applied by governments (and usually imposed by international financial institutions) are not gender-neutral since one of their main biases is the transfer of state costs to the reproductive economy and the unpaid work of women.
Source: Choike

* The Southern Bank from an environmental perspective
On September 20, the president of Venezuela, Hugo Chávez, expressed his urgent need to implement the Southern Bank. Without delving into the urgent need of president Chávez, the creation of the Southern Bank – a regional development bank – will be a very positive initiative for those countries getting involved in it, strengthening their solidarity and cooperation ties and their perspectives on autonomy with regards to international financial institutions. However, we believe it is worth pointing out some considerations since the definitions and strategic guidelines have not yet been clearly established (at least publicly).
Source: Alai

* UNCTAD and World Bank publish long-awaited papers on odious debt
UNCTAD and the World Bank have both published long-awaited research papers on the issue of odious debt. Both papers have been financed in part by the Government of Norway. The publication of this work follows much confusion for CSOs working on this issue worldwide, because of the way that both institutions formaly carried out the research. Both UNCTAD and the World Bank are inviting feedback on the papers and civil society organizations are preparing a response to them.
Source: Eurodad

* The global financial crisis and the return of the Argentine debt
The much-touted pop of the US housing bubble has finally taken place. Cheap money is over. Unlike previous occasions, this time the global crisis had its epicentre at the heart of the First-World. Almost at the same time, a report from the Economy Ministry was released which accounted for the country’s public debt evolution between December 2005 and March 2007. To the surprise of those who were unaware, the amount of debt rose, despite of nobody talks on debt issues.
Source: CADTM

* New developments in South-South cooperation: China ODA, alternative regionalisms, Banco del Sur
South-South cooperation is becoming increasingly important given criticisms on the current process of globalization. Since the 19th century, non-hegemonic countries and regions forged alliances as a strategy to reduce dependency and dominance from Northern powers. At the beginning of the 21st century, Southern countries remain associating to promote South-South cooperation.
Source: IDEAs


* World Bank and IMF – Major changes needed

*** All Statements


-> Join the week of Global Action Against Debt and IFIs
The debt problem is not over, despite all the promises and schemes offered by lending governments and international financial institutions. Several civil society organizations are planning a week of various forms of citizen’s actions and mobilizations worldwide from October 14 to 21, 2007.

-> October 2007 IMF and World Bank actions
Since the summer, a broad coalition of organizations and global justice activists from Washington, DC and around US have been working to plan four days of actions and events, during the annual meetings of the International Monetary Fund and World Bank, to confront institutions that put profit over people everywhere.

*** All Campaigns


-> International Gender and Trade Network
The International Gender and Trade Network is a network of feminist gender specialists who provide technical information on gender and trade issues to women's groups, NGOs, social movements and governments. It is a Southern-led network that builds South/North cooperation in the work of developing more just and democratic policy from a critical feminist perspective.

*** NGOs directory


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IFIs Latin American Monitor

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