IFIs Latin American Monitor - January, 2009


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-> 8. NGOs

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-> World Social Forum 2009 - Belém, Brazil
The World Social Forum 2009 took place from January 27 to February 1 in the Brazilian city of Belém, the capital of Pará state and the northeastern gateway to the Amazon jungle region. The global economic crisis and its effects, as well as environmental and climate issues were high on the agenda at this forum that gathered civil society and social movements around the world.

*** 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.

-> World Social Forum (WSF)
The first and fundamental result of the Forum is the event itself. The World Social Forum (WSF) was created to provide an open platform to discuss strategies of resistance to the globalization model proposed at the annual World Economic Forum at Davos.


* For a new economic and social model
Let’s put finance in its place!

Call for the signature of NGOs, trade unions and social movements
After a series of seminars at the World Social Forum 2009 in Belem, which involved among others : Action Aid, Attac, BankTrack, CADTM, CCFD, CEDLA, CNCD, CRID, Eurodad, Global alternatives Forum, IBON, International WG on Trade-Finance Linkages, LATINDADD, Networkers South-North, NIGD, SOMO, Tax Justice Network, Transform!, OWINFS, War on Want, World Council of Churches, an open letter urging to modify and reform the economic and social models in use shall be presented to world leaders at the G-20 meeting that will take place in London at the end of March 2009.

* "IADB.50: 50 years financing inequality"
Under the motto "50 years financing inequality" a group of civil society organisations, networks and movements are working on a campaign on occasion of the 50th anniversary of the Inter-American Development Bank (IADB), to be celebrated during the next Meeting of the Board of IDB Governors. For the group, this is an important landmark to evidence the failure of the development model promoted by the IDB and present alternatives proposed by the peoples of the Americas aimed at their well-being.
Source: IFIs Latin American Monitor


* Mortgage mess sinks development bank portfolio
The Inter-American Development Bank, the largest lender for projects including roads and power plants in Latin America, lost $1.9 billion on mortgages and other securities as part of an unusually aggressive investment strategy, according to internal bank documents obtained by The Associated Press.
Source: Associated Press

* IDB aims to increase its loan portfolio in Latin America
At times of global crisis, the Inter-American Development Bank (IDB) strengthens two of its main programmes: infrastructure and regional trade. However, for social organisations and movements in the region, an increase in said funds does not necessarily contribute to overcome the crisis or eliminate its causes, but rather contributes to reinforce the development model promoted by the Bank.
Source: IFIs Latin American Monitor


-> G20 asks too much of the IMF
While analysts differ about changing world geopolitics and whether emerging economies may be the long-term winners of this crisis, the IMF emerges as a clear short-term winner. Seemingly dead after its despised intervention in the aftermath of the Asian crisis, the IMF is coming back stronger than ever, potentially with a slightly changed policy approach. Several 2009 summit meetings will consider how to reform the Fund and what new roles it might take on.
Source: Eurodad

-> Saving the planet or capitalism?
In November 2008, the president of Bolivia, Evo Morales, wrote an open letter entitled "Climate change: it is necessary to save the planet from capitalism". In said letter, Morales expresses the demands and concerns of many peoples, movements and organisations around the climate crisis and the decisions that are being made by those who are suppposed to be "our leaders". When one of the main solutions pointed out is to strengthen the role of Multilateral Financial Institutions (MFIs) – such as the World Bank – which played a key role in the elaboration and implementation of the same policies that are responsible for the crisis, it is impossible not to wonder whether the goal is to save the planet or capitalism.
Source: Rede Brazil


* Campaign declaration: "IADB.50: Fifty years financing inequality is enough!" (pdf)

* Declaration of the Assembly of Movements fighting to overcome debt domination
World Social Forum - Belém

* Accelerating into disaster – When banks manage the food crisis
Civil society statement for the High Level Meeting on Food crisis

*** All Statements

8. NGOs

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

*** NGOs directory


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