A new report by UNCTAD, Capital Flows to Developing Countries and the Reform of the International Financial System, concludes that until ways can be found at the international level to limit financial instability then developing countries should maintain national control over capital flows.
A new report from the IMF, Country Experiences with the Use and Liberalization of Capital Controls, reviews experience with the use of capital controls in 14 countries and provides detailed studies of the experience of the use of controls in Chile, India and Malaysia.
Important changes to the IMF’s remit in the poorest countries were announced at the IMF-WB Annual Meetings in September.
The view that poor countries owe the rich millions of dollars in loan repayments is challenged by a Christian Aid report.
A new report from UK NGO CAFOD criticises the IMF response to the financial crisis as “inadequate and at times harmful to the interests of the poor” and urges “deep reforms”.
Jubilee 2000 representatives held a South-South Summit in South Africa in late November.
Organizations and activists in more than 20 Southern countries have launched a campaign against the destructive lending policies of the World Bank.
In October UK Executive Director Stephen Pickford was called before the Treasury and International Development Select Committees for questioning by MPs.
Relations between the Bank and the government of Papua New Guinea were strained in July by the government’s decision to issue bonds to raise money from the private sector.
In July, rising transport and fuel prices in Ecuador led to strikes and public protests, and an up-rising by thousands of indigenous people who are also concerned about privatisation plans.