Rethinking the international financial system during a time of crisis

Introduction
On October 19 and 20, 2009, the Halifax Initiative held a conference, co-hosted by The North South Institute, the University of Ottawa and the School of International Development and Global Studies (SIDGS), entitled "What’s Missing in the Response to the Global Financial Crisis?" The meeting brought together experts from a range of backgrounds to analyze the challenges facing the global economy, discuss the ways in which the international community has responded to the current financial crisis, and identify shortcomings in these responses.

CSOs push for Common Approaches revamp
Members of the Organisation for Economic Co-operation and Development (OECD) are currently reviewing a 2007 Council Recommendation regarding export credit agency (ECA) operations. The Recommendation on Common Approaches on the Environment and Officially Supported Export Credits (Common Approaches) is a “gentlemen’s agreement” that seeks to establish a level playing field regarding ECA environmental practice. CSOs argue that the Recommendation’s impact is undermined by the lack of effective accountability mechanisms to ensure consistent and effective application by member governments.

Volume V, Number 11— November 30, 2009

 

Corporate Accountability Hearings Heat Up

Hon. Stockwell Day
Minister of International Trade

Hon. Lawrence Cannon
Minister of Foreign Affairs

Hon. Lisa Raitt
Minister of Natural Resources

Hon. Beverley Oda
Minister of International Cooperation

November 3, 2009

Re: Withdrawal of civil servants from corporate accountability conference

Dear Ministers Day, Cannon, Raitt and Oda:

On October 29, civil servants from the Department of Foreign Affairs and International Trade, Natural Resources Canada and the Canadian International Development Agency suddenly withdrew their participation from a conference jointly organized by the Canadian Network on Corporate Accountability (CNCA) and the Mining Association of Canada (MAC), which is taking place today. These civil servants withdrew not only as speakers on each of the conference’s panels, but also as registered participants.

Up to the Challenge: a Multi-Stakeholder Conference on Corporate Accountability in Canada’s Extractive Industries Operating Abroad

One-day, Multi-stakeholder Conference on Corporate Accountability in Canada’s Extractive Industries Operating Abroad, co-sponsored by the Canadian Network on Corporate Accountability and the Mining Association of Canada.

---

When: Tuesday November 3, 2009, 8:30 AM to 5:00 PM
Where: Holiday Inn, Plaza la Chaudière, 2 rue Montcalm, Gatineau, Québec
Who should attend: Federal Government officials, civil society and industry representatives, academics and students, Members of Parliament and media
Simultaneous interpretation will be available for the morning plenary and for one afternoon panel / discussion group.
Lunch will be provided on site.
To register: Conference Registration is closed. Pre-registration is required.
For further information: contact Jean Christie

Introduction
The Official Development Assistance (ODA) Accountability Act (ODA Act) came into force on June 28, 2008. This now legally requires Canadian ODA to contribute to poverty reduction, take into account the perspectives of the poor, and be consistent with international human rights standards. Over the past year, the Canadian International Development Agency (CIDA), Foreign Affairs Canada (FAC), and Finance Canada have been developing plans on how to interpret and implement the Act. To date, only Finance Canada has held a consultation on the Act, with neither CIDA nor FAC disclosing its plans. Consultations must be held before September 30, 2009, when CIDA is expected to release the first annual report on the Act.

Revised July 2009

What is the World Bank? What are the agencies of the World Bank and what do they do? Who owns the World Bank? How is the World Bank governed? Who makes decisions at the World Bank? How is the World Bank held to account, or is it? Who is the head of the World? How is this person selected? How is the World Bank funded?

How much has Canada contributed to the World Bank? What kind of loans does the World Bank make? What are “structural adjustment” policies? Why do developing countries agree to these harsh economic measures? What are the impacts of these policies? So how is the Bank doing at “alleviating poverty”? Who, then, benefits from World Bank projects and policies? Why pressure the World Bank?

Revised June 2009

Who Who represents Canada at the World Bank and IMF? Who does Canada represent at the World Bank and IMF? Who are Canada’s current Executive Directors? Who are some of Canada’s past Executive Directors to the Bank and Fund? How can you contact the offices of the Executive Directors? What What other positions are available to Canadians at the World Bank and IMF? How much does Canada contribute to the World Bank and IMF? Does Canada borrow from the Bank and Fund?

How How much say does Canada have at the Bank and Fund? Is Canada a big player at the World Bank and IMF? How do we know what Canada does at the World Bank and IMF? To what extent are Canadian officials at the World Bank and IMF accountable to government and the public? System Chart System chart linking Finance, CIDA, the World Bank and IMF