News Archives » Economic Justice
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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First 100 Days of Zimbabwe’s Transitional Government May 28th, 2009
On Sunday May 24, Zimbabwe marked the first 100 days of the Government of National Unity between President Robert Mugabe (ZANU-PF) and Movement for Democracy Change (MDC) under Prime Minister Morgan Tsvangairai. It has a difficult and challenging 100 days of strained relations between rival political factions in Zimbabwe.
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SRIC is inspired by faith and committed to action May 10th, 2009
The financial crisis, health care and the urgency of responding to global warming were three criticial issues discussed at a recent panel organized by the Socially Responsible Investment Coalition (SRIC). The current crises were examined by a panel with varied expertise. Fr. Seamus Finn, OMI discussed the financial crisis, emphasizing its impact on the poor.
Congo Conflict Mineral Disclosure Act Introduced May 8th, 2009
Companies registered in the US that sell products using columbite-tantalite (also known as coltan), cassiterite or derivatives from minerals from Democratic Republic of Congo or neighboring countries will be required to annually disclose to the Securities and Exchange Commission the origin of those minerals. This provision is contained in new legislation called the Congo Conflict Mineral Act 2009 (S.891) introduced on April 23 the by Senators Sam Brownback (R-KS), Dick Durbin (D-IL) and Russ Feingold (D-WI).
The sale of minerals is linked to the funding of killings, atrocities and rapes crimes committed by armed groups in Democratic Republic of Congo. The Congo Conflict Mineral Act brings accountability and transparency to the importation and sale of mineral products from Congo by disclosure of their origin. Cassiterite, Colton and tantalite are minerals commonly used in cell phones, laptop computers and other electronic products used by millions of people in the United States and other developed countries.
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Oblates Work with Parishioners to Save Mortgages April 27th, 2009
John Lasseigne, OMI is a priest at Mary Immaculate Catholic Church in the Southern California community of Pacoima, where one in every nine homes is in some stage of foreclosure. He says the people in this community were targeted by predatory lenders and given loans they never should have qualified for.
Fr. Lasseigne and others at Mary Immaculate, has been working with One-LA, a community organizing effort in Los Angeles, to help parishioners re-finance problematic mortgages.
CNN recently did a story on this effort. Watch the video…
