IMF back in business, but still politically bankrupt
Even before US President George Bush announced plans for next month’s G-20 Summit on the financial crisis (see “Just the Facts”), International Monetary Fund (IMF) Managing Director Strauss Khan has been pushing for the IMF to be front and center in addressing the crisis. In a complete about-face from one year ago, Strauss Khan now sees the IMF not just fighting fires through new flexible emergency loan arrangements to address food, fuel and finance crises, but as a “global regulatory coordinator” or world central bank.
Declaration on the Rights of Indigenous Peoples Adopted
On June 29, the Human Rights Council – the new United Nations Human Rights Commission – finally adopted the Declaration on the Rights of Indigenous Peoples, twenty-two years after it was first drafted by the UN Working Group on Indigenous Peoples.
Mind the (Growing) Gap – Debt, Aid, and Trade
1.2 billion people are still living in abject poverty as Prime Minister Stephen Harper heads to St. Petersburg for the annual Group of Eight (G8) meetings. With new promises on energy and security waiting in the wings, it is timely to reflect on how far the G8 has moved on its pledges since last year’s Gleneagles Summit.
According to British Prime Minister Tony Blair, 2005 was to be “the year for Africa”. The Africa Commission report, the Make Poverty History campaign and the Live 8 concerts focused attention on full debt cancellation, more and better aid, fairer trade and tackling poverty. Progress on these fronts, among others, was to help Africa “make serious inroads into poverty”, and towards achieving the United Nations (UN) Millennium Development Goals.
March 24, 2006
December 15, 2005
World Bank, International Monetary Fund write off some debts
G8 Leaders Fail to Make Much Progress at Gleneagles Summit, World Bank given leading role.
G8 Finance Ministers' finalize debt proposal.