Déja vu on preferred options for Bank governance reform
Despite internal and external criticism about the superficial nature of governance reforms recently concluded at the IMF (see IU April and June 2008), the World Bank looks set to follow suit at the October Annual meetings with a series of disappointing proposals for increasing the voice of developing and transition countries (DTC) at the Bank.
August 28, 2008
Mr. Robert B. Zoellick, President
World Bank Headquarters
1818 H Street, NW
Washington, DC 20433
Dear Mr. Zoellick,
Re.: World Bank governance
That the world is at an historical crossroads is evidenced by the rise of powerful new global economies, financial crises in the US and Europe, the high prices for commodities most notably food and fuel, and the overwhelming climate change crisis. This reality has been recognized in numerous fora such as the recent Commonwealth Heads of State conference, which agreed that in the context of these global crises it is more important than ever to have ambitious reform of the international financial institutions.
Business and human rights - protect, respect and remedy
Last month, members of the United Nations (UN) Human Rights Council unanimously endorsed the policy framework identified in April by John Ruggie, the Special Representative of the Secretary-General (SRSG) on human rights and transnational corporations. The Council also extended Mr. Ruggie’s mandate for three years.
Letter to the Editor - Embassy, July 9, 2008
World Bank’s CSR Praise Met with Cynicism in Light of Gov’t Stalling
The World Bank and the Canadian government are not unalike (RE: “World Bank Applauds Canada’s Americas Focus,” June 25). Both initiated a process to respond to complaints from civil society and communities about the negative human rights, environmental and economic impacts of publicly-funded extractive projects. In the World Bank’s case, it was the Extractive Industries Review (EIR). In the Canadian case, it was the National Roundtables on Corporate Social Responsibility (CSR) and the Canadian Extractive Industry in Developing Countries.
Introduction
On May 29, Bill C-293 or the “better aid bill”, received royal assent. This now legally requires Canadian official development assistance (ODA) to contribute to poverty reduction, take into account the perspectives of the poor, and be consistent with international human rights standards. The Canadian International Development Agency (CIDA) and Foreign Affairs Canada (FAC), among others, are in the process of developing plans on how to implement the Bill in practice. These comments are intended to help CIDA and FAC in their interpretation of the Bill for the various international financial institutions for which they are the lead agencies.
Introduction
In 1944, the Bretton Woods Conference established the World Bank and International Monetary Fund (IMF). Every year at the end of March, the Minister of Finance tables a “Report on Operations under the Bretton Woods and Related Agreements Act”. As of 2008, these annual reports provide a comprehensive introduction to the institutions and Canada’s place within them, an overview of Canadian priorities and actions in 2007, and Canadian medium- term priorities looking forward.
Since 1995, the Halifax Initiative Coalition (HI) has produced report cards on these annual reports to Parliament. These report cards drew attention to the perfunctory nature of the reports and the absence of any substantive content with respect to Canadian priorities, policies and positions on the various issues before the Bank and Fund. They evaluate the transparency and accountability of Finance Canada to parliamentarians for Canadian activities at the institutions, and propose a model, based on best practice, for enhancing the report.
EDC in the spotlight – beyond responsible to accountable
A statutorily-mandated review of the Export Development Act, the legislation that governs operations at Export Development Canada (EDC), is currently being conducted by the Minister of International Trade (see Just the Facts).
12 June 2008
Hon. Minister Christine Lagarde Hon. Minister Giulio Tremonti,
Hon. Alistair Darling, Chancellor of the Exchequer
Hon. Minister Peer Steinbrück Hon. Minister Jim Flaherty
Hon. Henry Paulson Jr., Secretary of the Treasury
Hon. Minister Fukushiro Nukaga Hon. Minister Alexei Kudrin
Re: Open letter to G8 Finance Ministers calling for immediate debt cancellation for Haiti
The undersigned civil society organizations from the Group of Eight (G8) nations and other European organizations urge all G8 Governments to support immediate multilateral and bilateral debt cancellation for Haiti or a moratorium on all debt service payments until such a time as the debt is cancelled.
Introduction
On May 29, Bill C-293 or the “better aid bill”, received royal assent, now legally requiring Canadian official development assistance (ODA) to contribute to poverty reduction, take into account the perspectives of the poor, and be consistent with international human rights standards. Finance Canada, among others, is in the process of developing plans on how to implement the Bill in practice. These comments are intended to help Finance Canada in its interpretation of the Bill for the various international financial institutions (IFIs) for which it is the lead agency.
http://www.freedominfo.org/ifti/20080516a.htm
16 MAY 2008
Canadian Government Reports on IFI Activity Get Good Grade
The Canadian government’s annual reporting on its activities at international financial institutions is getting better, according to the authors, and to a Canadian civil society group which recently gave the latest report its best grade ever.
The Halifax Initiative said the report on 2007 activities merited a B+, up from last year’s rating of B-, and way up from the D grades of 2001-2005.
