Parliament of Canada

Report - Analysis of the Finance Report on BWIs, 2005 - June 2, 2006

PDF of Full Report available here

Nous regrettons qu'en 2006, l'initiative d'Halifax n'a pas produit de version Francaise.

Report Card on the Canadian Department of Finance “2005 Report on Operations Under Bretton Woods and Related Agreements Act”


Introduction
Every year at the end of March,[1] the Department of Finance tables its report on the operations of the Bretton Woods Institutions (BWI) [2] before Parliament and details activities at these institutions in relation to Canadian priorities, commitments and interests. The reports provide some good background information on the institutions themselves, on emerging issues and challenges within the World Bank and International Monetary Fund (IMF), and some brief details on Canadian priorities and financial participation at these institutions.

Letter #1 from Minister M. Aileen Caroll - July 8, 2005.

Recieved July 8, 2005

Mr. John Mihevc
Chair
Halifax Initiative Coalition
104 - 153 Chapel Street
Ottawa, Ontario KIN 1H5

Dear Mr. Mihevc:

As Minister of International Cooperation, I am pleased to respond to your letter to the Prime Minister, concerning Canada's international assistance efforts.

Financial taxes are complex matters, especially when they are meant to generate additional revenues for development and not, like past proposals such as the Tobin tax, to reduce market volatility. This is why my colleague, the Honourable Ralph E. Goodale, Minister of Finance, and I requested, at the World Bank and International Monetary Fund meetings last October, that their staff conduct technical studies on the potential impact of various innovative financing proposals.

Letter to Minister Manley Re: Southern Africa food crisis - July 19, 2002

The Honourable John Manley
Minister of Finance House of Commons
Ottawa, K1A 0A6

July 19, 2002

Dear Minister Manley,

Southern Africa is facing its worst food crisis in over a decade, with millions of people facing starvation. The UN World Food Programme has launched an emergency appeal for assistance, and Canada is responding promptly and generously.

As development, human rights, church and environmental organizations, our concern extends beyond the need for emergency aid. We are dismayed to see millions of dollars continue to be taken out of the region by creditors like the World Bank.

Letter to Paul Martin Re: Tobin tax - April 30, 2002

Hon. Paul Martin, Minister of Finance
House of Commons
Centre Block, 309-S
Ottawa, Ontario
K1A 0A6

April 30, 2002

Dear Mr. Martin,

On behalf of the Halifax Initiative, I write seeking clarification as to whether and why the Government of Canada no longer supports the Tobin tax. When questioned by Lorne Nystrom in the House, John McCallum, Secretary of State for Financial Institutions said that he "would commend the government for ceasing to support a Tobin tax because I think it is a pretty bad tax." (House of Commons Hansard, 21 March 2002).

Letter to PM Re: Financing for Development Conference - March 14, 2002

The Right Honourable Jean Chrétien
Prime Minister of Canada
House of Commons
Centre Block, 309-S
Ottawa, Ontario
K1A 0A6

March 14, 2002

Dear Prime Minister,

We are writing to you, as representatives of Canadian non-governmental organizations, to express our dismay at the proposed outcomes of the UN Financing for Development process and Canada’s role in the negotiations leading to it. We call urgently for renewed leadership on the road to Kananaskis.

Letter to PM Re: Financing for Development Conference - March 14, 2002

The Right Honourable Jean Chrétien

The following letter was sent to the Prime Minister with copies to the Finance Minister and the Foreign Affairs Minister on March 14, 2002. It was signed by leaders representing over 100 Canadian development, social justice, labour and faith organizations.

The Right Honourable Jean Chrétien
Prime Minister of Canada
House of Commons
Centre Block, 309-S
Ottawa, Ontario
K1A 0A6

March 14, 2002

Dear Prime Minister,

We are writing to you, as representatives of Canadian non-governmental organizations, to express our dismay at the proposed outcomes of the UN Financing for Development process and Canada’s role in the negotiations leading to it. We call urgently for renewed leadership on the road to Kananaskis.

Press Release - Thursday, March 14, 2002

All circus, no substance. Canada's performance in Monterrey to set stage for Kananaskis.
 
March 14, 2002 – Next Monday, Prime Minister Jean Chrétien, will attend the UN Conference on Financing for Development (FfD) in Monterrey, Mexico. Today Canadian non-governmental organizations release a letter to the Prime Minister strongly critical of Canada’s role in the FfD process and concerned about implications for the G8 in Kananaskis.

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