Home     Writers     Op/Ed     Book Reviews     News     Bookstore     Photoshops     Submit     Search     Contact Us     Advertise  
  You are here: 





New IMF Managing Director Appointment Sparks Civil Society Call for Change in First 100 Days
Thursday, 04 October 2007 22:02
Letter Addresses IMF Policies that Undermine Development in Africa

Thursday, October 4, 2007(Washington, DC) – This week 125 civil society organizations sent a letter to Dominique Strauss-Khan, the incoming International Monetary Fund (IMF) Managing Director, calling on him to address IMF policies that undermine developing nations’ ability to increase health and education spending. The former French Finance Minister was selected to head the IMF starting November 1. In his opening press conference Monday, he committed to institutional reform. Africa Action spearheaded this civil society response that outlines some key elements of the necessary reform in collaboration with several other non-governmental organizations including ActionAid International USA, Essential Action, Health GAP, RESULTS, and the Student Global AIDS Campaign among others. The letter is now available here. (pdf)

The letter addresses an IMF Independent Evaluation Office (IEO) report that finds as much as 74% of additional foreign aid to 29 countries in sub-Saharan Africa between 1999-2005 has been diverted from its intended purposes and allocated to domestic debt payment and international currency reserves because of IMF policies regulating macroeconomic and monetary policies.

Marie Clarke Brill, Interim Executive Director of Africa Action said this morning, “In light of the devastation of the HIV/AIDS pandemic and global efforts to achieve universal access to treatment by 2010, it is unconscionable that IMF policies force governments to siphon desperately needed additional aid flows away from health ministries in order to meet the IMF’s overly conservative inflation targets. If Mr. Strauss-Khan is serious about IMF reform, these issues must be at the top of his agenda.”

The letter calls for four key changes in policy, including removing obstacles to increased spending on health, HIV/AIDS and education, thereby enabling policy makers in borrowing countries; exploring and adopting more expansive fiscal and monetary policy options; providing immediate debt cancellation; and addressing budget and wage bill ceilings that undermine impoverished countries’ ability to provide adequate salaries for health and education workers, hire additional needed health workers and teachers and scale up and improve the quality of the health and education sectors.
More from this author:
Privacy Policy (11445 Hits)
Privacy Policy for V.O.F. Expathos (Atlantic Free Press) V.O.F. EXPATHOS (ATLANTIC FREE PRESS) PRIVACY POLICY Welcome to V.O.F....
Terms of Use (12239 Hits)
V.O.F. Expathos Web Site Agreement The materials that appear on this website are available free of charge. They are published...
About (12639 Hits)
Atlantic Free Press was founded in September 2006 by Publisher Richard Kastelein of V.O.F. Expathos, in the Netherlands and Editor - Journalist Chris...
Advertise (43141 Hits)
To advertise please contact Editor @ atlanticfreepress dot Com ...or use the googleads services here
Help (11968 Hits)
Contact us by email.
Related Articles:
Civil War in Iraq: The Salvador Option and US/UK Policy (10794 Hits)
by Craig Murray, As the catastrophe in Iraq continues to unfold, an unresolved question remains on the role of Bush, Blair, and the US/UK...
Let's March in January! An Impeachment Call to Action (12639 Hits)
by Dave Lindorff I'm going to go out on a limb here and predict that, barring some incredible act of criminal cynicism such as the...
Impeach for Change Kicks off National Campaign (8621 Hits)
by Dave Lindorff The kick-off session of the new national movement for impeachment of President Bush (and Vice President Dick Cheney), Impeach...
First Real Test for Democrats: The Lame Duck Session of Congress (8231 Hits)
by Dave Lindorff Forget all the talk about civility and compromise. It's clear that President Bush and his aiders and abettors in the...
The Dems’ First Step on Iraq: The Kind of Hearings We Need (7067 Hits)
by Andrew Bard Schmookler WHERE CHICKENS COME TO ROOST The Democrats need to achieve two things with respect to the mess in Iraq: 1)...

Add this page to your favorite Social Bookmarking websites
Comments (0)add comment

Write comment
smaller | bigger



Top 123