IFIs Latin American Monitor - November, 2008


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-> UN climate change conference - 1-12 December 2008, Poznan, Poland
Each year the United Nations Climate Change Conference (UNFCC) holds negotiating sessions known as the "COP" (conference of parties). COP14 takes place in 2008, in the Polish city of Poznañ from 1-14 December 2008 and will continue to work on the "Bali Action Plan" which was agreed at COP 13. The purpose of the Bali Action Plan is to commence implementation on Convention obligations that have not been met thus far, and also design the second commitment period of the Kyoto Protocol to start after 2012.

-> Follow-up International Conference on Financing for Development - 29 Nov.- 2 Dec. 2008, Doha, Qatar
In its resolution 62/187 of 19 December 2007, the UN General Assembly decided that the Follow-up International Conference to Review the Implementation of the Monterrey Consensus was held in Doha, Qatar, from 29 November to 2 December 2008. The aim was to review the implementation of Monterrey's decisions and determine the new initiatives that would be necessary to meet the increasingly compromised Millennium Development Goals (MDGs). The political challenge faced by governments lies in achieving specific agreements at the Doha Conference well beyond the minimum Monterrey Consensus.

*** All events


-> The global financial crisis: implications for the South
The past few months have seen one of the most significant financial crises in history that started in the United States and then spread to Europe, Asia and the rest of the world. The financial system, its architecture and its institutions are being questioned and they need to be completely rethought.

-> Southern Bank: An alternative to the IFIs?
This special coverage includes information and analysis on the constitution process of the Southern Bank: official documents, civil society initiatives and analysis on the negotiations to set out the Bank guidelines.


-> Social Watch launched its 2008 report: "Rights is the Answer"
The unusual combination of financial crisis, food crisis, energy and climate crisis requires a new approach based on human rights, argues the international Social Watch coalition in its 2008 report, launched during the United Nations Conference on Financing for Development. Next December 10, as the report remembers the 60th Anniversary of Universal Declaration of Human Rights will be commemorated and the title of the Social Watch Report 2008 is, precisely, “Rights is the Answer”.
Source: Social Watch

-> The Ecuadorean Debt Audit Commission presented its final report
On November 20th was officially presented the report of the Committee for the Integral Audit of Public Credit of Ecuador -CAIC- at an event convened by President Rafael Correa, in the Auditorium of the CIESPAL of Quito. Members of social movements and organizations were present at the event to support this action which constitutes a great contribution to the fight against debt.
Source: IFIs Latin American Monitor

-> International Seminar on Debt Audit in Latin America
In November 12-14 was held in Brasilia the International Seminar "Debt Audit in Latin America", with the aim of spreading the formal audit conducted by the Ecuadorean government and other initiatives that are going on. The event included representatives of Ecuador, Brazil, Argentina, Paraguay, Peru, Bolivia, Belgium and the international networks CLAI, Latindadd, Jubilee South Americas and CADTM. In the final document, participants called on all governments and social movements in Latin America to join this effort.
Source: Auditoria Cidadã da Dívida


* The Bank of the South
A year since the Bank of the South was launched, a number of key structural and policy issues remain. And now the current financial, food and fuel crisis may also threaten the availability of member country resources for the project. As a result of these various hurdles, it seems unlikely that the Bank will begin operations before even mid-2009. As the 2008 global financial crisis has seen the loan portfolio and influence of the IMF grow once again, the time is right for a regional alternative to the IFIs. The Bank of the South is a powerful idea.
Source: Halifax nitiative

* The World Bank, the IFC and the antecedents of the financial crisis
The financial crisis seemed to come out of the blue, but Paulo dos Santos of the University of London argues that the ground was laid by financial sector privatisation, liberalisation and deregulation. Far from these trends being confined to the rich world, the World Bank and the IFC have played a key role in pushing these policies throughout emerging markets, exposing them to the fallout of the financial crisis.
Source: Bretton Woods Project

* Trade issues crucial for effectively dealing with the global financial crisis
Leaders of the G20 countries gathered at an Economic Summit in Washington decided to launch a process to implement reforms of the international financial system. A similar effort is underway at the UN to convene a summit next year. With so much attention focused on the response to the global financial crisis, it would be easy to assume trade issues will take a backseat to financial ones. For developing countries, this approach would be a tragedy. As the financial crisis continues to unfold, events are making it painfully clear that trade is the main channel by which the financial crisis will make its impacts felt on them, especially on their real economies.
Source: networkideas.org

* The IMF is dead; long live the IMF
Rumors of the International Monetary Fund's demise appear to have been greatly exaggerated. While the IMF has spent most of the last three years looking for clients and "relevance," the end of the U.S. housing bubble and the resulting global credit crunch seem to have given the institution a new lease on life. However, it is on its track record on which the IMF should be judged as today's financial and economic crises unfold. The IMF's policy advice is always designed to reflect the best interest of investors.


* Follow-up International Conference ends with adoption of text calling for further meeting (pdf)

* Closing remarks by Jens Martens, Civil Society Forum - Doha, November 29th

* Quito Declaration - In the face of the financial crisis, we demanded a change in model

* Civil Society supports UN-led Summit on finances

*** All Statements

7. NGOs

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

*** NGOs directory


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