In April the World Bank launched a new briefing Assessing Globalization, examining the implications of international trade for poverty, inequality and the environment.
The new IMF policy of “lending into arrears”, that is lending to countries in financial crisis with debts owing to the private sector, has been applied to Ecuador.
A new report from Christian Aid, Millennium Lottery, Who Lives, Who Dies in an Age of Third World Debt, looks at how debt and structural adjustment hinders development through the lens of health in Africa.
Bolivia is the first country to have produced an Interim Poverty Reduction Strategy Paper (PRSP), which has qualified it for the enhanced HIPC Initiative debt relief.
In January, the Confederation of Indigenous Nationalities of Ecuador (CONAIE), and other social movements led an uprising in protest at the worsening economic situation which resulted in the resignation of the president, Jamil Mahuad.
NGO activists in Jakarta wrote an open letter to World Bank President James Wolfensohn in February, asking him to meet directly with the people to hear their own solutions to reverse Indonesia’s economic decline based on small-scale, local initiatives.
The Mozambican Debt Group (MDG) has protested against the one-year moratorium on Mozambican debt service payments granted by the World Bank in response to the devastation caused by the worst floods experienced by the country, and against the Bank providing loans to support emergency efforts.
In October UK Executive Director Stephen Pickford was called before the Treasury and International Development Select Committees for questioning by MPs.
Organizations and activists in more than 20 Southern countries have launched a campaign against the destructive lending policies of the World Bank.
Jubilee 2000 representatives held a South-South Summit in South Africa in late November.