IFIs Latin American Monitor - March, 2006


-> 1. News
-> 2. Reports
-> 3. Statements
-> 4. Campaigns
-> 5. Special websites


-> World Bank agrees debt cancellation promised by G8
Sustained pressure from campaigners has helped win $37 billion of cancellation of poor countries' debts to the World Bank, and prevent unacceptable delays in delivering the cancellation. The deal means that 17 countries will get cancellation of World Bank debts from July 2006.
Source: Jubilee Debt Campaign

-> The IADB and civil society
The IADB carries out periodic consultations with Latin American civil society organizations both at national and regional level. The last regional consultation took place at Campinas (São Paulo) on 13-15 February. This meeting represented a first approach between the new president and social representatives. The next one will take place within the framework of the Annual Meeeting of the Board of Governors.
Source: IFIs Latin American Monitor

-> External debt in Ecuador: audit still pending
The activity of the Commission set to audit the external debt in Ecuador is in suspense. The government gave up this initiative after promoting the setting up of said commission early in February. Many local and international economic interests are at stake which may have questioned this decision. According to Hugo Arias, of the organization Jubilee 2000, the opinion of the IMF was also decisive.
Source: IFIs Latin American Monitor

-> Paraguay and the IMF: the negotiation goes on
Following long months of negotiation, the government of Paraguay and the International Monetary Fund (IMF) continue to work on a new Stand-By agreement. After the last IMF technical mission, both parties have failed to reach an agreement on the conditions of the new programme. The institution lays emphasis on the reform of state-owned companies.
Source: IFIs Latin American Monitor

-> Bolivia without the IMF
The Bolivian government informed the International Monetary Fund (IMF) it has no plans to negotiate a new Stand-By agreement once the current one becomes due on March 31. According to Mark Weisbrot, of the Center for Economic and Policy Research (CEPR), Bolivia’s long experience under IMF programmes has not always been a happy and successful one.
Source: IFIs Latin American Monitor


* The future of IMF and the World Bank
The future of the IMF and the WB is on debate. Recently, many articles were published on this topic. Each added different points to the discussion. This paper presents a summary of the most important points of view. (pdf format)
Source: Citizens' Network on Essential Services

* The 2006 report by the World Bank - "Poverty Reduction & Growth: Virtuous and Vicious Circles"
The Bank-financed neoliberal policies of the past 25 years have plunged the region into poverty and sharply exacerbated inequality to the point where the richest one-tenth of the population in the region receives 48 percent of total income, while the poorest tenth earns only 1.6 percent. Thus, the Bank is heretical to "discover" the seriousness of the plight of Latin America after so many years. But the real heresy is that the institution does not address its own complicity in the situation. (pdf format)
Source: Citizens' Network on Essential Services

* Unable to vote with one’s feet? Developing countries and the IMF
When it comes to the International Monetary Fund (IMF), most people agree that change is needed. Disagreement arises when discussing the type of change. Some say the IMF has done so much damage and is so discredited that it should be scrapped altogether. Others argue for varying degrees of reform that will move the IMF towards being an organisation that is accountable and democratic.
Source: Pambazuba News

* External debt takes more resources away from Bolivia
Fundación Jubileo has published the first issue of its Journal. One of the articles included therein closely reviews the debt problem and explains its position regarding the G8 debt cancellation and the attitude the IADB should be taking.
Source: IFIs Latin American Monitor


* Argentina: Presentation of bill to declare void the debt undertaken by the military dictatorship

*** All Statements


-> The case for cancelling Inter-American Development Bank debt NOW!
In 2005, following significant public pressure, the G8 announced a plan to cancel US$40bn in debt of 18 of some of the world’s most impoverished nations. While the deal does not go nearly far enough it is significant that for the first time the international community has acknowledged that 100% cancellation of some multilateral debts is urgently needed and can be accomplished. This paper calls for the immediate cancellation of IDB debts owed by the Latin American HIPCs.
Source: Eurodad

-> Global call for action to boycott Singapore Airlines
This is a global call for action by Consumers Association of Penang and Friends of the Earth Malaysia to boycott Singapore Airlines in view of the warning issued by the Singapore government that it is prepared to cane or imprison protestors who commit "violent crimes" during the forthcoming Annual Meeting of the World Bank and IMF in September this year which will be held in Singapore.
Source: Friends of the Earth Malaysia

*** All Campaigns


-> IFIwatchnet
The IFI Watchers Network connects organisations worldwide which are monitoring international financial institutions (IFIs) such as the World Bank, the IMF, and regional development banks.
*** There you have a special section, for you to load comments, notes, articles and everyday personal experiences related with the development of civil society activities in the context of the IADB official meetings. Next month, IFIwatchnet will develop a special calendar for the IMF-WB Spring Meetings 2006.

The BICECA Project is part of the IIRSA Articulation (Articulación Frente a IIRSA), an informal international network of organizations and communities working to promote alternatives to the unsustainable development models promoted by IIRSA. BICECA is a project of the Bank Information Center.

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IFIs Latin American Monitor

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