The IMF has told the transition government in Cote d’Ivoire that it should cut government spending after finding that spending was more than double the level agreed by the former president, who was overthrown in December 1999.
Zambian President, Fredrick Chiluba has blamed the IMF for Zambia’s economic problems, saying that the IMF’s reforms, advocated by rich countries, had brought unemployment and a rise in poverty levels.
A US Congress commission, which reported in March, called for major cut backs in World Bank and IMF activities.
African heads of state met in Libreville, Gabon in January to discuss the economic agenda for Africa in the new millennium.
A South Korean court has rejected a lawsuit filed by a group of labour unions against the IMF for alleged policy mistakes.
In October UK Executive Director Stephen Pickford was called before the Treasury and International Development Select Committees for questioning by MPs.
A new review of IMF conditionality will assess the conditions applied to financial crisis countries, and recommend future approaches.
Organizations and activists in more than 20 Southern countries have launched a campaign against the destructive lending policies of the World Bank.
The Asian Development Bank Institute (ADBI), led by its new head Masaru Yoshitomi, has mounted an attack on the IMF’s use of conventional policies for dealing with the crisis in Asia and plans to hold meetings and seminars to challenge the IMF’s approach at the Bank/Fund annual meetings.
In late August Colombian labour unions began an indefinite national strike in protest at the government’s political, social, and economic agenda and calling on the government to declare a moratorium on the payment of its internal and external debt.