IFIs Latin American Monitor - April, 2008


-> 1. Events
-> 2. News
-> 3. Reports
-> 4. Statements
-> 5. Information resources


-> UNCTAD XII: 20 - 25 April 2008 in Accra, Ghana
The twelfth session of the United Nations Conference on Trade and Development (known as UNCTAD XII) was held from 20 to 25 April 2008 at the International Conference Centre in Accra, Ghana. Several thousand delegates including some world leaders attended the gathering. A Civil Society Forum took place from 17 to 19 April at the Ghana National Theatre in Accra, just before UNCTAD XII.

-> IMF/WB Spring Meetings - Washington D.C., April 2008
The 2008 Spring Meetings of the World Bank and the International Monetary Fund were held over the weekend of April 12-13 at the World Bank and IMF Headquarters in Washington, D.C. As in previous years, Civil Society Organizations (CSOs) organized different activities alongside the Spring Meetings.

-> IDB Annual Governors' Meeting - Miami, April 2008
The 49th Annual Meeting of the Board of Governors of the IDB took place in Miami, USA, April 4-8. As in previous years, civil society representatives participated actively in seminars and meetings with IDB staff members.


-> IMF reforms itself, a little
The poor have been given a little more say in the IMF. The rich countries have so far had 60.57 percent of voting rights in the IMF. The approved reform reduces that to 57.93 percent. For many developing countries and NGOs this is still not enough, but it is the biggest single change in voting rights in favour of developing countries in the IMF, which was set up in 1946.
Source: IFIs Latin American Monitor

-> Exodus at the IMF
As the International Monetary Fund (IMF) continues to face escalating deficits and a crisis of credibility, almost a quarter of its 2,400 full-time staff in Washington, D.C. have voluntarily applied for resignations. An IMF information notice reported that the actual number of buyout requests was as high as 620, far in excess of the institution’s goal of laying off 380 staff.
Source: Bank Information Center

-> The contribution of capital to the South Bank: a question of asymmetries
The finance ministers of the South Bank met last Friday 25 in Montevideo, Uruguay. The aim was to analyze the issues pending resolution regarding the setting up of the Bank, among them the contribution of capital. The event was of a private nature but once the meeting came to an end, the ministers informed about the main resolutions in a press conference. All the agreements still have to be approved by Argentina, which failed to attend the meeting.
Source: IFIs Latin American Monitor

-> Climate change, biofuels and food prices
The seminar "Climate Change in Today’s Global Agenda" was held on the second day of sessions of the IDB Annual Meeting. From then on, climate change and renewable energies largely monopolized the announcements made at the meeting in Miami. These are framed within the context of a strong rise in global food prices and the debate on its causes.
Source: IFIs Latin American Monitor

-> Colombia will organize the IDB’s 50th anniversary meeting
Upon closing the meeting held in Miami, Moreno announced that next year the IDB’s 50th Annual Meeting will take place in Medellín, Colombia. While the Bank and the host government go ahead with official arrangements, social organizations are already getting prepared for the meeting.
Source: IFIs Latin American Monitor


* The World Bank tries to re-write Bolivian history
The World Bank's Bolivia office has decided to get into the propaganda game. This month it produced a snazzy little 22-page booklet that it is distributing by the tens of thousands in three major Bolivian dailies, in La Paz, Cochabamba, and Santa Cruz. The booklet is titled, "Ten things they never told you about the World Bank in Bolivia". "There is, however, a good reason that Bolivians aren't used to hearing some of the Bank's ten boasts – it's because they aren't true".
Source: The Democracy Center

* An explosive global crisis: financial instability, food riots, global warming
Against the backdrop of a possible Doha deal, the global economy is facing massive instability-most notably in the finance, food and agriculture sectors-and a climate in crisis resulting from human activity. According to IMF "the financial market crisis that erupted in August 2007 has developed into the largest financial shock since the Great Depression".
Source: Trade Observatory (IATP)

* G24 Ministers on finance crisis, IMF reform and climate change
Ministers of the Group of 24, which represents many developing countries at the IMF and World Bank, issued a communique during the Spring meetings of the IMF and World Bank, which called on developed countries to help developing countries cope with the spillover effects of the credit crisis. The G24 Ministers also stressed that in the IMF reform process the shift in voting structure and in quota shares to developing countries was still insufficient. Further realignments of members' quota shares in the context of future quota reviews is needed.
Source: SUNS


* Civil Society Forum Declaration to UNCTAD XII (pdf)

*** All Statements


* Trade Observatory
Trade Observatory is a project of the Institute for Agriculture and Trade Policy, a Minneapolis-based nongovernmental organization. Trade Observatory (formerly WTO Watch) posts the work of IATP and other organizations working toward fairer trade systems and alternative approaches to globalization.

* Agrofuels (Choike In-deph report)

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

*** NGOs directory


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