IFIs Latin American Monitor - June, 2008


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-> G8 Summit 2008 – 7-9 July, Hokkaido, Japan
The leaders of the world's most industrialised nations gathered in Japan for the Group of Eight (G8) Summit, on 7-9 July 2008. They discused on climate change, the food shortage, the rising global fuel prices, nuclear proliferation and development, especially in Africa. The G8 Summit is an international forum for the governments of Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States. Each year CSOs organize a counter-summit and analize the official statements.

-> Third High Level Forum on Aid Effectiveness: 2-4 September 2008, Accra, Ghana
In September 2008, ministers from over 100 countries, heads of bilateral and multilateral development agencies, donor organisations, and civil society organisations from around the world will gather in Accra for the Third High-Level Forum on Aid Effectiveness (2-4 September). Their common objective is to help developing countries and marginalised people in their fight against poverty by making aid more transparent, accountable and results-oriented.

*** All events


-> Civil society groups propose change in annual IDB-civil society meeting
Senior Inter-American Development Bank (IDB) officials have made it a practice to meet with civil society representatives in a special meeting once per year then again during the Bank’s Board of Governors meeting. Despite having direct access to the IDB president Moreno at these meetings, their quality and in turn civil society interest has declined precipitously. A letter sent to President Moreno lays out a series of arguments suggesting greater control by civil society organizations in a change that would mark a dramatic shift in the Bank designed meetings of the past.
Source: BICECA

-> World Bank’s lending for fossil fuel skyrockets as it positions itself as the "climate bank"
As the World Bank prepares to launch two new climate investment funds at the upcoming G8 summit, and positions itself as the "climate bank", new statistics developed by the Bank Information Center show that the World Bank's private sector arm, the International Financial Corporation (IFC), increased its lending for fossil fuel projects by a staggering 165% in FY2008. Taken as a whole, the World Bank Group increased its fossil-fuel lending by 60% in the same period.
Source: Bank Information Center

-> Finance and Development: An inescapable congruence
The recent UN meeting held with civil society last June 18, in the context of the Follow-up International Conference on Financing for Development, has gone over several of the speeches made within this space and, at the same time, has reinforced the actions aimed at solving the difficult global equation between finance and development, with a view to the declaration that may be obtained in Doha next November 2008.
Source: Latindadd

-> World Bank watchdog thrashes 'Doing Business' Index
The World Bank's flagship effort to promote business-led economic growth is ideologically stilted and of little practical use, says the bank's Internal Evaluation Group (IEG). In a report released late Thursday 12, the IEG said the Doing Business (DB) survey is prejudiced in favour of deregulation, overstates its conclusions, and shows "no statistically significant relationship" between its indicators and broader economic growth, much less improvements in national well-being.
Source: Inter Press Service


* Stage of definitions on the Southern Bank
The Southern Bank is one of the three pillars of the new regional financial architecture in South America, together with a Southern Fund and a South American Monetary Unit. This fact was agreed upon by the presidents of Argentina, Bolivia, Brazil, Ecuador, Paraguay and Venezuela in the Quito Declaration signed on May 3, 2007. This Bank is intended to be an expression of sovereignty and financial independence, as well as an entity which will finance another kind of integration with emphasis on the energy sovereignty, food security and intra-regional trade. After its creation, nevertheless, a series of facts and debates have arisen which show that this path will not be so easy to take.
Source: IFIs Latin American Monitor

* Dormant IMF fails to heed wake-up calls for democratization
The last spring meetings of the World Bank and the International Monetary Fund (IMF) brought to conclusion the debate on reforms of the governance of the IMF. The reforms were a response to the Monterrey Summit agreement to call on the World Bank and the IMF to enhance the participation of developing countries and countries in transition in their governance. Unfortunately, in spite of legitimacy, credibility and an effectiveness crisis that saw two Managing Directors pass, and at some point raised hopes of a wake up call for the institution, the reforms were meagre and unsatisfactory.
Source: South Center

* The IMF's regressive secret - Tax policy advice and its distributional impact
Taxation may not sound exciting, but it is central to the development of a nation. For this reason, the failure of numerous developing countries to collect taxes efficiently is a serious problem, as it renders them unable to provide basic social services. Hence, over the past three decades, the IMF has been heavily involved in tax reforms in developing countries, in the form of both advice and conditions linked to the Fund's loans. The tax package put forward by the IMF places great emphasis on the value added tax (VAT), a consumption tax levied at each stage of production and sale, and pushes countries to have few rates and few exemptions.
Source: Bretton Woods Project


* CSOs Statement on Debt, Food Crisis and Climate Change - G8 Summit 2008, Japan

* Statements delivered at the Hearing of Civil Society on Financing for Development
18 June 2008, UN Headquarters

* World Bank Own Evaluation Group Slams "Doing Business" Report, by CSI

*** All Statements


Building Informed Civic Engagement for Conservation in the Andes-Amazon (BICECA) is a project of the Bank Information Center, that supports civil society organizations to analyze and influence economic integration projects and policies in the Andes-Amazon. Relevant information on IIRSA and other International Finance Institutions projects is essential for civil society to prevent and mitigate the negative environmental and social impacts of infrastructure development.

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