IFI governance


Civil society activities

Upswell in pressure for fundamental change

22 October 2008

Statements for reform

A number of NGOs, activists and movements working on IFI´s, debt and finance issues have produced statements responding to the global financial crisis. In November, a global sign-on statement went to governments calling for fundamental and far-reaching transformation of the international financial and economic system through a transparent, open process that is inclusive and participatory of all governments of the world, with representatives from civil society, citizen’s groups, social movements and other stakeholders.

A second statement supplemented the above with more concrete demands, including “immediate action to develop a new international regulatory architecture with democratic checks and balances that is aimed at promoting the interests of workers, small-hold farmers, consumers, and the environment and preventing future financial crises, in which the United Nations should play a central role in its development.”

Several other NGO networks and movements have produced statements on the financial crisis and their demands for a reformed international financial architecture. There are no shortage of blueprints for reform (see Update 63.) If you have a statement you want included in this list please let us know.

UK coalition demands reform

Leading NGOs, faith leaders, and the Trade Unions Congress wrote a letter to the UK Prime Minister in advance of the November 15th Summit. It called for fundamental changes, including democratisation of international economic institutions, investment in a low carbon economy, and the regulation of finance, including tackling tax havens and tax avoidance by multinationals.

Sharing knowledge

The Bretton Woods Project helped organise a workshop on 15 December, hosted by SOAS, where participants discussed concrete policy implications of the crisis and changes civil society groups will be pushing in the lead up to the G20 meeting in London in April.

More information and live recordings of the speakers.

This followed a previous Bretton Woods Project seminar on 28 October, with more than 40 representatives of NGOs, development organisations, labour unions, think tanks, academia and the media


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