Mr Jagdeo, Guayanese Finance Minister, has attacked the IMF for its lack of commitment to debt reduction and using the HIPC Initiative as a means of forcing countries to comply with ESAF programmes. Speaking at the World Bank-IMF annual meetings he called for a framework which could really deliver debt reduction and which would:
- be more flexible;
- contain fewer conditions;
- offer more interim financing; and
- allow genuine debtor/creditor negotiations.