MPs on the International Development Select Committee questioned Clare Short on: debt, PRSPs, PSIA, Bank governance, social and environmental policies, privatisation of services, education and trade capacity building.
A leaked IMF and World Bank report confirms the HIPC initiative is not delivering.
IMF number two Anne Kreuger favours a so-called “institutional approach” for debt restructuring which involves establishing a Dispute Resolution Forum to bring all stakeholders together.
A deal between the US and Europe means that 18 to 21 per cent of the World Bank’s International Development Association aid will now come in the form of grants rather than loans.
Civil society organizations were disappointed by the outcome of talks at the G8 summit in Canada on an Africa Action Plan, HIPC and education.
Ministers at the Spring Meetings agreed that the IMF should not, except in “exceptional circumstances” provide large bailouts to countries in financial crises.
Meeting with Rick Rowden, RESULTS, 31 May 2002
The first elected government in East Timor faces an estimated US $154-$184 million shortfall in its initial three-year budget.
The number of pundits up in arms over the IMF’s handling of the crisis in Argentina continues to mount. The most recent selection includes Brazilian President, Henrique Cardoso, and ex-World Bank Chief Economist, Joseph Stiglitz.
US debt campaigners are siding with the Bush administration against European leaders and other NGOs over a key source of finance for the world’s 79 poorest countries. Discussions on the pros and cons of providing grants instead of loans through IDA appear deadlocked (March 2002).