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.
From South Africa to Tunisia, Libya and Egypt, the Bank and Fund have demonstrated they are not appropriate allies to address the scale of the crisis the world is facing, especially, given their record.
