IFI policies and positions

Issue Brief - Poverty Reduction Strategy Papers - September 2005

To receive debt reduction through the World Bank and International Monetary Fund (IMF), low- income countries must prepare of a Poverty Reduction Strategy Paper (PRSP) to show how money freed up from debt servicing will be used to alleviate poverty. PRSPs describe the country's macroeconomic, structural and social policies and programmes to promote growth and reduce poverty, as well as outline associated external financing needs and major sources of financing. The World Bank and the IMF Board of Directors approve the PRSP produced in each country.

Monthly Issue Update - March 31, 2005

Wolfowitz Nomination - Who's Afraid of the Big Bad Wolf?
On March 31, the World Bank's Board unanimously appointed Paul Wolfowitz as the next President of the Bank. Mr. Wolfowitz is the US Deputy Secretary of Defense, and is often cited as the key architect and advocate behind the invasion of Iraq in 2003. Citing his role as Ambassador to the US Embassy in Indonesia, the State Department, and the Pentagon, US President George Bush said Wolfowitz would bring experience to the position of President both as a "skilled diplomat" and experienced manager.

Government of Canada response Re: Debt relief, financing and other issues - April 8, 2005

April 8, 2005


Mr. John Mihevc and co-signatories
Halifax initiative Coalition
104-153 Chapel Street
Ottawa, ON KIN 1H5

Dear Mr. Mihevc and co-signatories:

Thank you for your correspondence of January 28, 2005 regarding debt relief, additional financing and other development issues. I apologize for the delay of my reply.

Monthly Issue Update - December 2004

International Finance Corporation Review
The International Finance Corporation (IFC), the private lending arm of the World Bank, is in the process of revising its social, environmental, and disclosure policies. These policies are currently the de facto international standards for export credit agencies, the Equator Principle banks, and the IFC - touching upon nearly three quarters of all international public and private project finance. The new Performance Standards are better integrated than the IFC's predecessor, the safeguards, but groups have individually challenged them on a number of fronts.


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