The worst famine in fifty years has resulted in several thousand deaths in Malawi in early 2002. An in-depth report by Action Aid Malawi places blame on a complex combination of technical failure and political mismanagement. The report calls a “fallacy” rumours that the IMF caused the famine by ordering the government to sell its grain reserves; both the Bank and the Fund had a hand, however, in the growing indebtedness of the agency responsible for the reserve, and recommendations to reduce the reserve which were based on inaccurate information on crop yields.
5 April 2004
12 September 2005
5 April 2004
Renewed calls for a substantial SDR allocation raise urgency of reforming the inequitable global reserve ‘non-system’.
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The Bretton Woods Project is a UK-based NGO that challenges the World Bank and IMF and promotes alternative approaches. We serve as an information provider, watchdog, networker and advocate. Our flagship publications are the Bretton Woods Observer, a quarterly critical review of developments at the World Bank and IMF, the Dispatch, a biannual analysis of the World Bank and IMF Spring and Annual Meetings, and the NewsLens, a bi-weekly roundup of key news and critical viewpoints published about the World Bank and IMF.
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).