15 January 1998
A critical study prepared for a meeting to discuss replenishing the Global Environment Facility, an international fund for environmental, criticises the World Bank’s use of the resources.
The Kyoto climate change meeting in December brought together ministers from 160 countries to agree binding restrictions on greenhouse gas emissions.
Doubts about the IMF’s capacity to deal with international currency problems are mounting as the South East Asian crisis worsens despite the IMF’s bail-out efforts.
The 50 Years is Enough alliance of NGOs took to Washington’s streets in January to protest about US funding for the IMF and its bailout of the Asian economies.
As the world celebrates the 75th anniversary of the Universal Declaration of Human Rights, it is time the IMF’s shareholders use the opportunities provided by the anniversary and growing calls for reforms to the international financial architecture to redesign the IMF’s governance structures and programmes to ensure they are consistent with the commitments outlined in 1948 and with international human rights law.
Influence of unreformed international financial institutions and creditor interests in debt solutions in low- and middle-income countries plagued by delay and ineffective when undertaken.
