IFIs Latin American Monitor - May, 2008


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


-> High-Level Conference on World Food Security – Rome, 3-5 June 2008
The UN Food and Agriculture Orgnization (FAO) Headquarters in Rome, Italy, hosted the High-Level Conference on World Food Security: the Challenges of Climate Change and Bioenergy from 3 to 5 June 2008. The overall purpose of the High-Level Conference was to address food security issues in the face of soaring food prices and the new challenges of climate change and energy security.

-> 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.


-> UN consultation emphasises unfinished debt agenda
Civil Society Organizations from all continents were in New York on 29 and 30 May to attend a consultation on debt organised by UNDP. The consultation – on the theme of Avoiding the 2015 Debt Crisis - was organised in the context of the financing for development process that will conclude in Doha in early December this year. CSOs emphasised that debt continues to be a very pressing issue for human development and its resolution a vital precondition for the achievement of social justice. This report includes the full presentation by Oscar Ugarteche (UNAM - Latindadd) on the new financial architecture, and by Patricia Miranda (Jubileo Bolivia - Latindadd) on Multilateral Debt Relief Initiative Countries and debt sustainability.
Source: Eurodad and Latindadd

-> IMF governance in the eye of the internal storm
The Independent Evaluation Office (IEO) of the International Monetary Fund (IMF), an internal assessment body, released a report on the governance of the financial institution, pointing some criticism in terms of representativeness and accountability. The IMF has failed to adequately adapt to the changing global reality and its leadership should be more responsible for the management of the institution, reported the IEO.
Source: IFIs Latin American Monitor

-> World Bank's climate funds proposal distorts UNFCCC principles
The World Bank’s revised climate investment funds (CIF) proposals reflect a poor understanding of the international climate change regime and remains inconsistent with the principles of the United Nations Framework Convention on Climate Change (UNFCCC) despite claims to the contrary. According to a key developing country negotiator in the UNFCCC who has been involved in the process since its inception, the Bank’s new proposals, which were discussed at their third design meeting in Potsdam, Germany on 21-22 May, reflect a selective reading of the multilateral climate change agreement and ignores the negotiating history of the Convention.
Author: Celine Tan
Source: Third World Network

-> Donors take step forwards to untie aid
Donor governments agreed that they would untie their aid to more countries. The Organisation for Economic Cooperation and Development (OECD) Development Assistance Committee announced that they have extended the previous commitment – which was to untie aid to all Least Developed Countries – to include all HIPC countries. This effectively adds 8 more countries to the list of 31 countries. These countries are Bolivia, Cameroon, Côte d’Ivoire, Ghana, Guyana, Honduras, Nicaragua, and Republic of Congo.
Source: Eurodad

-> Round-table: Issues of lender responsibility for sovereign debt
The event took place in Washington within the framework of the Spring Meetings, gathering 40 people involved in debt issues. The attendance included officials (World Bank, IMF and EU among others) and civil society representatives from North and South. Beyond the apparently non-controversial title the round-table dealt with the issues of odious debt and illegitimate debt. This certainly implies some progress, given the fact that, so far, such a discussion had not been accepted in this kind of spaces. Citizen debt movements have long been insisting on its importance and struggling to include it in the agenda.
Source: Latindadd


* The food crisis and the international trade
The increase in the international food prices is an easily verifiable fact in recent times. As usual, the Organisation for Economic Cooperation and Development (OECD), the World Bank, the International Monetary Fund (IMF) and especially the World Trade Organization (WTO) came out with its old and permanent recipe: the solution to the problem is more liberalisation. More of the same medicine. But, is this not exactly the medicine that is complicating the international arena of food supply and is raising the prices?
Author: Adhemar Mineiro
Source: IBASE

* The Lugo’s Paraguay and the IMF
Former and future Finance Minister of Paraguay, Dionisio Borda, stated that the government of Fernando Lugo will not sign a new agreement with the IMF. This statement was made almost simultaneously that a mission of the institution came to Paraguay for the last revision of the Stand-By agreement the country signed in 2006. Fernando Lugo will assume the presidency next August 15, representing an electoral alliance of political parties and social movements that demand a change in the political, economical and social model.
Source: IFIs Latin American Monitor

* Is domestic debt the answer to debt crises?
Analysis of public debt in developing countries has traditionally focused on external debt. However, in recent years several countries have looked increasingly to domestic sources when expanding their net borrowing or adopted aggressive policies aimed at retiring public external debt and substituting it with domestically issued debt. Some countries are even building up domestic fiscal liabilities with the objective of sterilizing enlarged aid inflows. This paper asks what possible challenges and opportunities might be arising from these new developments in sovereign debt management. (pdf format)
Author: Ugo Panizza
Source: Initiative for Policy Dialogue

* The Bank of the South initiative: Some initial stumbling to get on the right path
After several postponements over the year 2007, the Bank of the South was formally created in Buenos Aires on December 9, 2007, when the presidents of the seven countries signed its founding charter. At that time, a 60-day deadline was established for the member countries to define the Bank's Articles of Incorporation. However, it was only recently, on April 25, 2008, in a meeting held in Montevideo that the matter was taken up again by the members. These suspensions and delays may be justified by some important differences that exist among the countries involved in the bank’s founding process and which constitute key factors in this sense. (pdf format)
Author: Ruth Espínola Soriano de Mello
Source: International Gender and Trade Network


* Global Civil Society Statement on World Bank Climate Investment Funds

* Public statment on Inter-American Development Bank loans to Latin American States

* Latindadd and the ALC-EU Summit (pdf format)

*** All Statements


* Latin-American Campaign for the Right to Education
The Latin-American Campaign for the Right to Education is a plural network of civil society organizations which acts in defense of the right to free public quality education for all, as a State responsibility. It aims to contribute to the debate and development of a Latin-American education agenda, as well as carrying out advocacy strategies targeting educational policies of Latin-American countries and of the region as a whole.

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

*** NGOs directory


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