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.
In late August Colombian labour unions began an indefinite national strike in protest at the government’s political, social, and economic agenda and calling on the government to declare a moratorium on the payment of its internal and external debt.
The IMF has agreed to lend US$7.32 bn to the Zimbabwean government despite continued concerns about corruption in the land reform process; the cost of supporting Zimbabwean troops in the Democratic Republic of Congo (DRC); a planned privatisation of the Hwange power plant; and the reintroduction of price controls.
African NGOs met in Nairobi in August to discuss and formulate an Africa Consensus on economic and social development to challenge the Washington Consensus.