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IMF Loan Changed to a Grant January 20th, 2010
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Under pressure, the IMF has changed its US$100 million loan to a grant. Dominique Strauss Kahn, the head of the IMF, has called for a major multilateral aid plan to rebuild the shattered Caribbean island of Haiti where the rescuers are still struggling to save lives after last week’s devastating earthquake.
Civil Society Organizations Engage IMF on Governance Reform September 29th, 2009
On September 8, 2009, representatives from civil society organizations (CSOs) met with the IMF Executive Board in an informal seminar at Fund Headquarters to discuss CSO recommendations on IMF governance reform. New Rules for Global Finance is coordinating the consultations, known as the Fourth Pillar Process. The Missionary Oblates, an active member of New Rules, was represented at the meeting by Seamus Finn, OMI.
The IMF just published an article about the consultation which is available in English, French and Spanish:
Oblate JPIC Urges IMF Loan to Sri Lanka be Conditioned on Tangible Human Rights Progress July 24th, 2009
In a letter to the US Executive Director to the International Monetary Fund, Meg Lundsager, the US Oblate JPIC office today urged that the US$2.5 billion stand-by loan be conditioned on tangible human rights progress by the Sri Lankan government. The loan was opposed by the UK government.
Some 280,000 Tamils are still being held involuntarily in over-crowded and severely under-serviced military-controlled camps in the north. In addition, the government has made no attempts to address the serious and legitimate underlying grievances of the Tamil population that led to the insurgency in the first place.
Read the full text of the letter.
Demand for a Globally Negotiated and Increased SDR Funding Without Conditionalities June 3rd, 2009
Stop increased funding to the IMF which only makes it a stronger enforcer of developed country restrictions through conditionalities.
NGOs Oppose Nearly 100-Billion-Dollar Pledge to IMF
WASHINGTON, May 31 (IPS) – A broad coalition of civil society groups, as well as some U.S. lawmakers, are fighting what they call a “blank cheque” from the U.S. to expand funding for the International Monetary Fund (IMF).
On May 22, the Senate passed a 91.3 billion-dollar-wartime spending bill that included 108 billion dollars for the Washington-based Fund. The bill will now have to be reconciled in a conference committee between the Senate and the House of Representatives whose own version omitted any IMF funding. The funding was the U.S. part of a larger package agreed by the G20 leaders at their April meeting in London, where they pledged to provide 1.1 trillion dollars in additional funding to the IMF.
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Jubilee Act Moves to Floor Vote in the House of Representatives April 4th, 2008
“Must we starve our children to pay our debts?”
-Julius Nyerere, former President of Tanzania
The US House of Representatives will vote on the Jubilee Act very soon, possibly as early as Tuesday, April 8!
Please take action by calling your Representative on Monday, April 7th.
Civil Society Calls for IDA Reform October 19th, 2007
Civil Society says to World Bank President Zoellick and Donor Governments: No Blank Check without Real Reform at the World Bank
As World Bank President Robert Zoellick ramps up a $37 billion fundraising campaign to replenish the Bank’s International Development Association (IDA) at the IMF/World Bank Annual meetings this weekend, a coalition of US development and environmental groups released a joint platform containing needed World Bank reforms.
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