IN THIS EDITION:
-> 1. News
-> 2. Reports
-> 3. Statements
-> 4. Campaigns
-> 5. Special websites
-> Argentina and Brazil: challenges of the cancellation of debt to the IMF
The decision announced by the governments of Brazil and Argentina in the last month of 2005 represent the culmination of a process which through different paths headed both countries towards the same fate: paying off the IMF. This decision faces both governments with important challenges in the year to come.
Source: IFIs Latin American Monitor
-> The unspoken motives behind the visit of the President of the World Bank to Brazil
It is the first time that Mr.Paul Wolfowitz, president of the World Bank, comes in an official visit to Latin America. In his schedule he has meetings in Brazil with Lula, Finance Minister Palocci and visits to different projects financed by the World Bank. The World Bank has for many years financed the construction of hydroelectric dams around the world. The social and environmental impacts of these projects were monitored and criticized by many civil society organizations. In whose interest are Wolfowitz’ visit to Brazil and his analysis of the region’s economic potential and present development conditions?. Will they serve the elaboration of new projects.
Source: Rede Brasil
-> After years of fighting the IMF, Lula turns Brazil into the best client of the Fund
The current news that the Brazilian government has decided to make an advance on the 2006-2007 debt service to the IMF, has given rise to various hypotheses about the new strategies of President Lula and his economic team.
Source: Rede Brasil
-> External debt and corruption in Latin America
Loans granted by IFIs to Latin American countries are many times diverted from their original purposes, and unfortunately this occasionally takes place with the complicity of both international institutions and local governments. Corruption is a problem that damages the development possibilities of poor countries.
Source: IFIs Latin American Monitor
* Factoring trade considerations into debt policies: The failure of World Bank and IMF-led frameworks
International policies on debt have so far failed to recognize the interdependent role that distorted trade agreements and chronic debt burdens share in perpetuating poverty. Structural adjustment and the HIPC initiative, with their one-sizefits-all approach to debt relief, relied heavily on wrong assumptions calling for tariff liberalization and promising export revenue increases. They have not only failed to substantially expand foreign exchange, but have also stranded many developing nations further in debt. (pdf format)
Source: Center of Concern
* Reforming the IMF: Back to the drawing board
A genuine reform of the IMF would require as much a redirection of its activities as improvements in its policies and operational modalities. Any reform designed to bring greater legitimacy would need to address shortcomings in its governance structure, but the Fund is unlikely to become a genuinely multilateral institution with equal rights and obligations for all its members, de facto as well as de jure, unless it ceases to depend on a few countries for resources and there is a clear separation between multilateral and bilateral arrangements in debt and finance.(pdf format)
Source: Third World Network
* National campaign “Indebted to Rights”
The campaign “En deuda con los derechos” (translated as “Indebted to Rights”) is an initiative of ILSA to be developed in Colombia, which contributes to a joint interpretation and assimilation of the structural effects brought about by the country’s external level of indebtedness. The proposal shares the political aims of social struggles in Latin America and represents an example to be followed, being this a widespread problem in those Third World countries that fight for the enforcement of their economic, social, cultural and environmental rights.
* From panacea to crisis: grounds, objectives and results of the World Bank’s market-assisted land reform
The article analyses the “market-assisted” land reform (MLRM) implemented in South Africa, Colombia, Guatemala and Brazil throughout the 1990s as an important component of the World Bank’s (WB) offensive directed at stimulating the creation of agrarian policies adjusted to the neoliberal parameters. The text analyses critically the theory and practice of the MLRM, showing that: what’s under dispute is the legitimacy of the redistributive role of the State and the model created by the WB is antagonistic to any kind of redistributive agrarian reform. (pdf format)
Source: Land Research Action Network
* IMF to extend 100 percent debt relief for 19 countries under the Multilateral Debt Relief Initiative (MDRI)
* Argentinians and Brazilians CSO: "Life before debt!"
Source: Jubilee South - Rede Brazil
*** All Statements
-> International demand against World Bank for the uruguayan pulp and paper mill industries
Local residents on both sides of the natural border between Argentina and Uruguay fear paper pulp production will cause grave environmental degradation, health risks and undermine local economic activity. Nearly 40,000 signatures were presented in support of the complaint filed to the IFC’s CAO and the Inter-American Human Rights tribunal.
*** All Campaigns
5. Special websites
-> Network Institue for Global Democratization
NIGD aims at promoting global democratization by producing and developing emancipatory knowledge for democratic movements, organizations and states. NIGD's work is based on cross-cultural dialogue and usually joint endeavours with a number of partners from the global south.
-> Third World Network
The Third World Network is an independent non-profit international network of organizations and individuals involved in issues relating to development, the Third World and North- South issues.
*** NGOs directory
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-> Use our search engine to find information in the civil society web sites
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IFIs Latin American Monitor