Debt


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Finance

News

O’Neill supports bankruptcy mechanism

In September US Treasury Secretary, Paul O’Neill, told the Senate Banking Committee that he would favour establishment of an international bankruptcy law as an alternative to IMF bailouts.

2 November 2001

Finance

News

HIPC not delivering debt relief

The Heavily Indebted Poor Country (HIPC) Initiative is failing to deliver debt relief, reports the Financial Times (9/10/01).

2 November 2001

Rights

News

IFIs must respect human rights

The World Bank and the IMF are bound by obligations enshrined in international human rights covenants, and must incorporate human rights considerations in the formulation and review of their Poverty Reduction Strategy Papers (PRSPs).

2 November 2001

Finance

News

Will grants kill IDA?

Heated debate is brewing between the US government which proposes that the Bank’s International Development Association (IDA) should provide up to 50 per cent of its resources as grants and some European governments (supported by the Bank) who argue that to do so would deplete IDA’s resources.

10 September 2001

Conditionality

News

Argentina to be sacrificed on free-market altar?

In August, Argentinian teachers, doctors and public workers went on strike and unemployed workers and students blocked roads to protest against rising unemployment and cuts in pensions and salaries.

10 September 2001

Finance

News

African leaders speak out against donors

At a forum in Lagos Nigerian President Olusegun Obasanjo accused the World Bank, International Monetary Fund and creditor nations of being unfair to developing countries trying to repay crippling external debts, reports Reuters (17/5/01).

18 June 2001

Finance

News

IMF and WB wanted for fraud

Protesters carrying placards proclaiming “Africa Needs Liberation Not Charity” and “the Debt is a Fraud” gathered outside World Bank offices in London on 26 May to mark African Liberation Day.

18 June 2001

Finance

News

Reality check on debt

A new report from Drop the Debt argues that the World Bank and IMF can afford to cancel in full the debts of the poorest countries without putting at risk their finances.

18 June 2001

Rights

News

Financial crises and global slowdown capture IMF-World Bank spring meetings agenda

The global economic slowdown and donor countries’ differing views on what to do about it, pushed issues related to the world’s poorest nations to the sidelines of public debate on this year’s spring meetings of the IMF and World Bank.

15 May 2001

Finance

News

Social legacy of Indonesia’s crisis

A new pamphlet from UNICEF details the social legacy of Indonesia’s financial crisis.

5 April 2001