IFIs Latin American Monitor - October, 2007


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


* 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) were held from October 20 to 22, at the WB and IMF headquarters in Washington D.C. Civil society groups organised events from October 18. Also, citizen actions and mobilizations took place worldwide, as part of the Week of Global Action vs. Debt and IFIs.

See also IFIwatchnet coverage for updates and analysis!


-> World Bank's social security reforms hamper fight against poverty
Social security, a historically proved method to reduce poverty, is being decimated all over the world through World Bank-promoted privatization reforms, states the 2007 Social Watch Report. According to SW, the state remains the only feasible institutional mechanism for social protection for marginalized, poor older people with no access to either labour market opportunities or alternative risk mitigating assets, even if financial limitations make this task quite difficult.
Source: Social Watch

-> IMF reform needed to increase financial oversight, says G24
Developing countries have called on the International Monetary Fund (IMF) to improve its surveillance of advanced economies, putting as much focus into evaluating their vulnerabilities as the institution does in emerging market economies. Ministers of the Group of 24 developing countries (G24) also stated that the recent financial turbulence highlighted the need to strengthen the multilateral regulation and supervision of international financial system to manage systemic risks.
Source: SUNS

-> Aid and debt issues for Latinamerica at the World Bank and IMF Annual Meetings
At the World Band and IMF meetings, expectations from Latindadd and its members were mainly focused on additionality of aid, debt sustainability framework and future lending after HIPC and MDRI. It is worthy to remark that few events were specifically related to Latinamerican issues. CSOs also take this opportunity to meet among networks and NGOs from different regions and countries, which is very valuable to share experiences, updated information, future activities and further coordination.
Source: Latindadd

-> The World Bank and the IMF in the upside down kingdom
At first sight, everything seemed the same as usual. But, taking a closer look, the ritual annual meeting was different this year from all the previous ones. Previously, the IMF was a forum in which rich countries told poor countries to get their finance in order. Now, the Group of 24 demands the Fund’s "surveillance of advanced economies and the evaluation of their vulnerabilities". Brazil and India are now the ones demanding the IMF to act in order to settle finances in the United States.
Source: Third World Network


* Argentina's economic recovery: Policy choices and implications
Argentina's current economic expansion, which is now more than five and a half years old, far exceeded the expectations of most economists and the business media. There are a number of policy choices that seem to have contributed to the recovery, some of them unorthodox and controversial. Among these were the Central Bank’s targeting of a stable and competitive exchange rate; Argentina’s break with the International Monetary Fund (IMF) and its policy prescriptions; and the default on its debt and maintenance of a hard line with its international creditors.
Source: CEPR

* What will Zoellick's World Bank look like?
With an increasing number of commentators asking whether and how the World Bank can remain relevant, chief economist François Bourguignon unveiled a draft overview of a 'long-term strategic exercise', and the IEG released an evaluation of the Bank's work in middle-income countries. According to Bourguignon's paper, one of the priorities for the Bank is to renew and expand services in middle-income countries.
Source: Bretton Woods Project

* Doing Business Report 2008: with power comes ir-responsibility?
This year's edition states that 113 reforms around the world are reportedly inspired or informed by the report since its beginning. A number of examples are given of countries that have targeted specific rankings and are implementing every necessary reform to get there. Arguably, of course, the report would not carry the same weight, especially among borrowing countries, if made by a non-lending institution.
Source: Center of Concern


* Civil society response to World Bank draft discussion Paper on Odious Debt: a call for a full, independent peer review

*** 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

8. NGOs directory


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-> Use our search engine to find information in the civil society web sites

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

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