For more than sixty years, the International Monetary Fund and the World Bank together with their partner regional development banks and export credit agencies, have used international finance capital to exercise control and restructure the societies of the South to serve the interests of global private corporations and the economic and geo-political agenda of the few powerful nations that control these institutions. The resulting effects on people's lives, on communities, on the environment, and on the economic as well as political structures in the South have been profound and over the years have generated numerous resistance struggles against these institutions.
Despite well-documented evidence and countless testimonies to the destruction, displacement and dispossession their policies and operations have caused, these institutions persist in legitimizing their role. In recent years they have declared themselves to be champions of "poverty reduction" and "good governance."
This year, 2006, we pledge to intensify our struggles against these institutions and raise the level of international coordination and concerted action. In particular, we commit to organizing different forms of mobilization and direct action in many countries across the globe during the week of the IMF and WB Annual Meetings, September 14-20, 2006. This will include various activities and actions in the vicinity of their meetings in Singapore.
WE CALL on all people's organizations, social movements, labor movements, women's movements, farmers groups, first peoples, religious and cultural groups, community organizations, NGOs, political forces, and all concerned citizens around the world to join us in mounting vigorous actions that will focus the world's attention on the destruction and human rights violations caused by the IMF and World Bank, the regional development banks, export credit agencies, and the neoliberal global system they enforce.
Our actions will identify issues and articulate demands that reflect the particular impacts of these institutions on each of our countries but will also be united on the following global demands:
1. Immediate and 100% cancellation of multilateral debts as part of the total cancellation of debts claimed from the South, without externally imposed conditionalities.
The inhuman and destructive consequences of debt domination which the international financial institutions play a major part in perpetuating are evidence against the outrageously deceitful claim of these institutions that they are working for "poverty reduction" and "financing for development."
Debt relief initiatives of international financial institutions have to date covered only a very small part of the debt claimed from the South. Worse, these initiatives come with conditions that undermine the sovereignty of people to determine their own path of development, have proven harmful to livelihoods and the environment, and keep South economies tied to the interests of global private profit.
Cancellation of only a small part of the debt may release some funds that can be used for basic services but does not free the South from debt bondage. Debt cancellation must be 100%.
And for immediate action, we highlight the especially urgent cases - most of Africa, Haiti, Nepal, Tsunami-hit countries and others recently devastated by natural calamities, countries ravaged by war, societies overwhelmed by HIV/AIDS, and others experiencing severe social, financial and economic crisis.
We reject the international financial institutions' "debt sustainability" framework. There is no level of debt that is "sustainable" in a global economic system that is founded on domination and exploitation of the peoples, economies and resources of the South. This framework is a means by which these institutions justify maintaining the "indebtedness" of Southern countries.
The insistence on their "debt sustainability framework" is also a refusal to address the more fundamental question of the illegitimacy of the debt claimed from the South. Peoples of the South should not be made to pay for illegitimate debts -- debts they have not benefited from, debts that financed projects that have caused displacement of communities and damage to the environment, debts wasted on corruption or failed projects, debts contracted through undemocratic and fraudulent means, debts with grossly unfair terms and harmful conditions, odious debts incurred by dictatorships, debt contracted in the context of exploitative international economic relations, debts for which peoples of the South have paid many times over.
Though the financial debts claimed from the South are of staggering amounts, totaling more than US$2.3 trillion dollars, the North in fact owes the peoples of the South a far, far greater debt. It is the historical, economic, social, and ecological debt accumulated over centuries of plunder and exploitation by North with the collaboration of Southern elites.
The IMF and the World Bank should bear the costs of writing off debts owed to them by using the World Bank's loan loss provisions (valued at US$3 billion as of June 30, 2005) and retained earnings (valued at US$27 billion as of June 30, 2005) and IMF gold stocks. With the market price of gold surpassing US$600 an ounce, the IMF's 103.4 million ounces of gold are worth more than US$60 billion, rather than the US$9 billion recorded on the IMF's books.
2. Open, transparent and participatory External Audit of the lending operations and related policies of the International Financial Institutions, beginning with the World Bank and IMF.
Debt campaigns, movements, people's organizations, and NGOs are now involved in preparing for and conducting country-level independent Citizens' Audits of Debts claimed from South countries as well as calling on South governments to conduct transparent, open and participatory Government Audits (e.g. Parliamentary) of these debts. These audits are aimed at examining the origins and causes of the debt problem, taking stock of effects and impacts, bringing to light the dubious and illegitimate character of the debts, identifying responsibility and accountability, and establishing and strengthening the basis for urgent changes in national policies on the debt and related issues.
We challenge the international financial institutions to subject themselves to similar independent audits of the loans they have released, their lending policies, processes and operations, and the terms and conditionalities that have accompanied these loans, and take stock of the effects and impacts. Such audits should look into the culpability and accountability of these international financial institutions, and asses what restitution and reparations must be made.
The international financial institutions have recently been stepping up efforts to portray themselves as champions of good governance, including the announcement of renewed efforts and strategies to fight corruption. We challenge these institutions to begin with themselves and examine how they have been involved in creating and exacerbating the problem of corruption. External, independent audits of their loans, lending operations and conditionalities should include this question. Further, corruption must be seen as a systemic problem that also involves the private sector, especially transnational corporations.
3. Stop the imposition of conditions and the promotion of neoliberal policies and projects.
Through the conditions attached to their loans and programs, the IMF and World Bank have succeeded in restructuring the global economy. The widespread use of "structural adjustment programs" from the early 1980s in countries with significant debt, poverty, and financial problems has forced most of the South countries' economic policies to ape those of the industrialized countries, regardless of how inappropriate those policies may have been for the countries' development needs. Because of the imposition of neo-liberal policies on countries desperate for access to credit, peoples across the South now confront economies oriented to export production rather than providing for local markets, devastated manufacturing sectors, a large percentage of economic actors in foreign hands, valuable public assets privatized, health and other social sectors crippled by decades of de-funding, environmental resources devastated by over-exploitation, small farms and businesses wiped out by denial of credit and subsidies, and massive unemployment.
Our struggle against debt domination is waged in large part to win freedom from the conditions that indebted governments are blackmailed into accepting. For the September 2006 actions we demand:
a. In this 50th anniversary year of the International Finance Corporation (IFC), the IFIs end the promotion of privatization of public services and the use of public resources to support private profits.
The IMF and especially the World Bank have been the main drivers in the global push for the privatization of basic services. They are joined by other financial institutions like regional development banks and export credit agencies.
The international financial institutions promote privatization of public services through policy conditions and policy advice, financing of projects that pave the way for privatization, providing technical assistance in the preparation of feasibility studies as well as the process of implementation, and even direct support for private companies taking over public utilities. The International Finance Corporation plays a major role in providing risk guarantees as well as equity assistance for these private companies, and facilitating government bail-outs of privatized utilities in distress.
The continued emphasis on privatizing basic services such as water provision - or, when no company is interested in purchasing the utility, arranging leases and service contracts - and the "commercialization" of even life-saving agencies such as those managing food reserves reflects a fixation on markets as the only organizing principle for economies even in the face of overwhelming contradictory evidence. Failure after failure of water privatizations in the South has not deterred the IFIs from their mission to wrest assets from public ownership.
Our message to the IFC and its multilateral partners is clear: no more public resources for support of private profit.
b. Stop IFI funding and involvement in environmentally destructive projects beginning with big dams, oil, gas and mining and implement the major recommendations of the Extractive Industries Review.
The international financial institutions are also presenting themselves as leading in the fight against climate change and environmental destruction. However, no amount of clever rhetoric about stronger commitments and new strategies can hide the fact that many projects designed, driven and supported by international financial institutions violate the already watered-down standards and safeguards avowed by these same institutions and cause massive environmental as well as social problems.
The World Bank is itself a major ecological debtor, having funded major projects such as hydro-electric dams, mines, pipelines and petroleum exploration and development projects which have displaced populations and wrought major environmental damage. The World Bank has refused to implement major recommendations of its own Extractive Industries Review including 1) the principle that communities faced with resource extraction projects must give free, prior and informed consent, 2) and the phase out of investment in hydrocarbon extraction projects.
The World Bank's attempt to claim leadership on the issue of climate change with the application of its development of carbon credit trading is another tragic example of market fundamentalism. Entrusting the precarious future of the world's climate to the World Bank's clever market solutions distracts the major actors from focusing on the over-consumption that threaten to doom the planet and all who live on it. Meanwhile, the World Bank Group, which claims leadership in developing alternative energy, devotes much greater resources to developing conventional energy sources. Indeed, the World Bank is the world's leading financer of projects producing greenhouse gases.
c. Immediately stop imposing conditions that exacerbate health crises like the AIDS pandemic and make restitution for past practices such as requiring user fees for public education and health care services.
IFI policies have aggravated health crises like the AIDS pandemic in a number of ways. Austerity measures have constrained health budgets, prevented the hiring of critically needed teachers and health care workers due to limits on spending for public sector employees, and kept people out of clinics and children away from schools by insisting on user fees. The macroeconomic policies the International Financial Institutions have imposed over the last 25 years - including fiscal austerity, high interest rates, unilateral trade liberalization and privatization of essential services - have led to lower growth rates and fewer improvements in social indicators than had occurred over the two decades between 1960 and 1980.
The IFIs owe an enormous social debt to countries whose public services have been damaged by their policies. Their creditors are the women of South countries, who have had to step in to provide the health care, the food, the teaching, the water, and the other basic goods and services put out of reach by IFI policies. The World Bank and the IMF should pay for free primary education and primary health care as a form of reparations or restitution for the damage their policies have caused.
It is not denying that most countries have encountered debt problems. Each country has started on their status from lower to become higher ones. They did a lot of things just to enhance their state. They did lots of ways and ideas in order to deal some common state problems. Debt is one of the most obvious and well-known state problems that the other countries also have. Not all countries around the world are having good and higher status without having any debt from the other rich countries. Yes, there are rich countries around the world. This means that not all countries have less status and not all countries are rich. Therefore, it is possible that there are counties that need help from the other countries to get funds for any projects and plans that they want to happen for the said country. Videoovervågning is another explanation that will help a particular country asked some ideas on how to deal with debt. Some reasons why other countries have debt to some rich countries, it is because of local monetary fund shortage.
It is obvious that some other countries have lack of monetary fund for a particular plan to develop their country. This means that they need to ask money through debt in order to have monetary fund on their plans. Videoovervågning has created lots of ways on how to deal with the problem. African debt is noteworthy news to tackle with. Africa before was not a progressive country. It encounters lots of issues such as drought and famine. With the problem of scarcity in water, some other places in Africa have this kind of problem that totally affects the loves of Africans. Once you check on some particular area in Africa, you would find out that they don’t have enough monetary funds to build an answer for a particular project such as installing water supply. With this, Africa has debt on some other countries which they really thank of. Africa has a remarkable history from being a poor country that becomes a rich country now. Yet there are some part of Africa was not yet developed but the operation to change this is ongoing now.
Videoovervågning can provide you some ideal solutions on how to deal with debt. It is obvious that there are lots of ways these days that are coming out just to help dealing on debt. Debt consolidation, debt settlement and some other ways are available in the market. The debt is an obligation owed that needs to be paid up to the agreed date of payment. But when talking about debt of a particular country, this would be a serious problem to deal with. It needs to have a powerful idea in order to pay the debt. With some ideas to deal on the debt problem, Videoovervågning would help a lot. Monetary fund for a particular country must have large amount and if the money is not that large or not enough, Videoovervågning would help deal with the problem.
There’s one country dominating European news channels at the moment – the events in Ukraine seem to be moving with ever increasing speed. Most reports of course are concerned with the country’s political future and it’s relationship with Europe and Russia.
However there is another crisis which is looming for whoever ends up being in charge of this divided country – an economic one. The country is hugely indebted and relies heavily on the one country it is seeking to distance itself from – Russia. In fact there is a major lending programme in place which is essential to Ukraine’s survival agreed with the Russian government and currently only 20% of it implemented. It would be highly unlikely to continue if the new EU friendly Ukraine turns it’s back on it’s powerful neighbour.
It is estimated that Ukraine needs about £21 billion over the next couple of years to maintain stability. If the Russians pull the plug on aid, which seems likely then it is to Europe that the country will look. It has already been mentioned by several important European officers who are well aware that the country will require substantial economic aid. The US Treasury secretary has also said that international support would be the best way forward probably via the IMF.
So will the US and EU fill the ever growing hole in the Ukrainian finances? It has happened before but the previous lending programmes with the country have not been overly successful, with the Ukranian authorities not sticking to the agreed policies in return for financial support. There were many problems but the central one was probably the reluctance of the government to raise the country’s energy prices. The subsidies cost Ukraine finances which they couldn’t really afford, it also meant that there was little encouragement for being more fuel efficient in both industry and domestic markets.
But it’s not all gloom and doom for the country, there are many resources the country can turn to with a modicum of political and financial stability in place. Like many former Soviet countries, there is a strong educational system in place and Ukraine has a large population of young well educated young people. There is also a large entrepreneurial spirit, and many people are highly active in the global digital economy. They use technologies such as VPNs, proxies and even these Smart DNS technology like this to break down digital borders that many countries have put in place.
There is a huge potential in the country, like most former Soviet countries when they broke away their economies contracted rapidly as they struggled to transform from a centrally planned economy to a western style capitalist economy – it’s never an easy process. There’s a lot of coverage in the media throughout Europe but some of the best is possibly in Germany through their domestic broadcasters – for those outside the country and with the necessary language skills you can use this technique to help bypass the geo blocks which normally block access.
This weekend in Sydney, the finance ministers of the G20 group of countries meet. Every meeting has an official theme, and this one is no exception – the subject is restoring global group.
Over the last few years we have seen amid the turmoil in the developed economies of the world, the emergence of huge growth in Asia and South American economies in particular. Much of this growth had in part been due to the other countries problems particularly the US. The US Federal Reserve for example has been buying bonds in order to keep money cheap and interest rates low – this has helped the US economy return to growth but it has many other economic impacts. For example funds were driven towards the emerging countries seeking to invest in the higher growth rates and higher interest rates.
Now this money is being returned to a more prosperous US, also because the risks in developed countries are much lower. This is causing a huge problem with big falls in currencies in Argentina and India for example. The US has faced some criticism that it’s own economic policies have caused such instability in other countries.
Over the last few years, we amongst others have reported some of the incredible rises in the economies of some of these nations particularly the likes of Brazil and Argentina. However it seems that the underlying instability and weaknesses of these economies means that they could be subject to damaging fluctuations when big economies like the USA change their policies.
It’s unlikely that we will ever see the situation where a country like the US will alter it’s economic policy in order to reduce global instability, western democracies really aren’t built like that. However it is hopeful that meetings like this with the other G20 countries will at least make them ‘mindful’ of the affect that their policies can have on other countries with less stable infrastructure.
There are some interesting debates on the US media both print and online, you can access the US online news services from ABC, CNN and NBC by using a US proxy service like this.
Additionally there is coverage of the G20 meeting itself on the BBC website, the majority is accessible internationally although to view the news and broadcast documentaries - you may need to watch this video.
The largest and most active stock markets are in The United States and one would think that Africa would have few people interested in investing. After all, Africa is one of the poorest places in the world and you don’t hear many good things on the news about any African economy.
I have a page about how to buy Facebook stock (https://www.facebook.com/HowToBuyStocksOnline) and you would think that most of the interest would come from people living in America. To my amazement many inquires come from all over the world and Africa is high on the list. It seems the power of Facebook is truly global and it doesn’t matter where you live, if you have money you are probably interested in making more.
Buying Facebook stock is easy if you are a US citizen but much harder if you aren’t. Many US stock brokers require a SSN number and that you are a citizen of America. Other brokers will allow people in some countries to sign up but not in other countries.
Buying any stock on an American market will be a problem for someone who lives in Africa. The best advice is to find out whether there are any local broker companies that will allow you to trade US stocks. There may not be though, as Africa is many years behind the rest of the world in technology.
This is the month (December 2013) when the Republic of Ireland will reach the end of it’s internationally funded bailout programme. The journey began in November 2010 when it’s biggest banks reached the brink of collapse in spectacular fashion. To rescue them the country was forced to take a 67 billion Euro loan, another huge amount was taken from the the State’s Pension reserve fund.
There was obviously a political cost to pay, the ruling coalition was dumped out of power a few weeks later. The two parties were hit hard – Fianna Fail plummeted and the junior party, the Greens completely wiped out.
Now Ireland is seeking to regain some control and it’s independence again. It will crucially be able to borrow on the International bond markets too. It is hoped the worse of this humiliating episode in Irish history will be at an end.
It is expected that Ireland’s experience will be held up as a role model for those who find themselves in a similar situation. The country has applied and accepted severe austerity measures with relatively little fuss. A political cost has been paid of course, but that was almost inevitable whichever course of action was taken.
The leaders of countries like Portugal, Spain and Greece will be carefully looking at the example of Ireland and seeing if they can replicate it’s recovery. Ireland of course is still saddled with many problems – including huge debts but there is now light at the end of the tunnel. Ireland has many reasons for optimism including many booming companies who have set up there due to it’s low levels of corporation tax. The links with both Europe and close bonds with the UK combined with low tax threshold are of obvious attractions. However there are still some barriers especially in the digital economy.
You may be surprised to hear that a country so closely tied with the UK is unable to access it’s national broadcaster on the internet. This fact the author discovered last week on a visit, fortunately with some internet trickery that was solved through this method I found on Youtube.
So does this mean that austerity can work, is it the answer that debt ridden Europe is looking for? Perhaps it is the problem is that in many cases it also represents political suicide if the measures deliver results over decades rather than years. For instance the IMF loans to Ireland will not be paid off until 2042, and the country will have to endure extensive audits until 75% of the loans have been settled. It’s not a timescale that normal democratic politics fits in well with unfortunately, politicians get elected from providing ‘good stuff’ not paying off loans.
Having a home that makes us feel comfortable and safe is something that we are dreaming of having. No one wants to live a home without any assurance that they would be safe. No matter what kind of climate it is, the home will serve as your shelter wherein you can relax and feel comfortable all the time. But, you would not consider it as a good home if the roof is old aging. If your roof is old enough, it might hassle you and the other members in your family. During rainy days, there are incidents that there will be leaking because of the old aged roof. So, this is the right time to get brand new roofs and pick priser nyt tag. You can check prisertagsten.dk for more info. This is a brand of roof wherein you have the assurance of its quality to last long. Of course, you want to change your old aging roof to a new one. But being new is not the most important thing in there. A roof that has the quality to last long would surely worth it in your decision to acquire new roof. Lots of available roofs of your choice in the market to pick and selecting the reliable one, reasonable price should you look for. This is they you should always consider quality roofs for quality homes instead of going with the cheapest option as it will lower the value of your home rather than increasing it.
Having a new house should not end it there when it comes to a nyt tag, ståltag, tagpap or similar systems which can improve your economy. Of course, you need to check every material used from building the house. This will give you an idea if your house will last long. No one wants to buy a house but it only ends its quality within single year when it comes to tagsten and nyt tag. Most buyers spend time to look for the best house in order to make sure that the money they spend for it will be worth it. The priser nyt tag is the kind of roofs excellent for new house. If you check the roof of the house you bought and you will find out that it is made from a quality material that would assure to last long, and then you are lucky on choosing it. Most home buyers look only on the look and appearance of the house. They forgot to check on the materials being used. They don’t realize that they would spend their hard earned cash from a house that would not worth on the money.
The priser nyt tag turns to be one of the most choices when it comes to roofs. Most buyers today check out on the look of the house and they don’t spend time on checking the materials being used. So, people are having a hard time to seek for a house that would answer what they need. At first, in time they buy a house and they don’t know if it would last long, they would feel happy. They would feel that the money they spent from buying it is worthy. After few years, they find out that the materials being used in the house would not last long most especially the roof. The roofs are one of the larger parts in the house and those will keep us from any bad climate. So, it is important that roofs are durable and has the quality to last long.
Who among us do not know about debt? Of course, everybody knows about it. When you try to check graviditetstest from babyornot.dk and read about their page, then you will find out how debt becomes a big issue in the economy and how does it affect the life of every individuals? Though less people are having a problem on it and they don’t even know how to deal with it. Debt is a responsibility and obligation to be paid by the party. This debt should be paid with the amount borrowed or with the agreed conditions on the credit and the debtor. So, if ever you are in debt, you need to know your obligation on paying the amount you borrowed or whatever the agreement made. Who aren’t these days who did not experienced debt yet according to the tests from graviditetstest? We are actually living in a society where we are tempted or encouraged people in getting into debt. Main reason why we are in debt because we are experiencing hardship or to finance our daily expenses and with that, we think about getting a debt and pay the amount borrowed in time. Debt is an obligation and we should bear in our minds that it is a responsibility as well.
There are ways to solve this debt problem. First, you can inquire debt programs to guide you and get an advice on how to deal this kind of problem. Of course, you might not be aware on how to deal on debt problems and it is good that you may inquire debt relief program in order to know how to deal with it and graviditetstest. Since there are kinds of programs, you need to make sure that you are attending a program for debt relief and not on any program that is not relevant on your problem. However, you need to think that there are programs that ask for free of charge and there are some that charge you an amount. Another thing, it would be a big loss to you if you get a program that will charge you costly. Through seeking and inquiring guides about debt, you may check www.babyornot.dk/graviditetstest.htm.
Yes, there are kinds of programs wherein you can get guides and advices on how to deal with debt problem. So, it is needed that we think about on getting a debt that would help us and not on adding more problems on getting it. Many people are having a trouble when it comes on their debts. They don’t know how to deal with it and the best thing that they do is to borrow money again with high interest in graviditetstest. For the debtor, they have to make sure that they solve their problem on debt and not adding more problems in it. There are actually ways on how to solve your debt problem and you have to make sure that it would surely help you. Debt will always be a debt and whoever lender releases money to let the people borrow money, they would always ask for the payment.
These days a credit card are an ubiquitous part of most people’s financial picture. While they can certainly be extremely useful, they can also pose serious risk, if not used properly. Let the ideas in this article play a major role in your daily financial decisions, and you will be on your way to building a strong financial foundation. Double-check the terms of a 0% APR offer before using it. It is common to transfer balances from higher-interest cards onto these new cards, in order to minimize interest. However, the 0% rate does not always apply to balance transfers. If you overlook this fact, transferring your debt will be a waste of time. Try not to use credit cards for everyday purchases such as groceries, gas, and clothing. These are things you will most likely need again, before you can pay the balance off. You will end up with a pile of credit card debt that will keep on growing. When you need these types of items, leave your Bayvantic Vet Combo at home.
If your credit card company offers to raise your spending allowance, think carefully before you accept. A higher spending allowance on your cards raises your possible debt to income ratio, and that can harm your credit score. If you do not need the higher spending allowance, ask your creditor to keep your balance where it is, instead of using Bayvantic Vet. Practice sound financial management by only charging purchases that you know you will be able to pay off. Credit cards can be a quick and dangerous way to rack up large amounts of debt that you may not be able to pay off. Don’t use them to live off of, if you are unable to come up with the funds to do so. Do not use one credit card to pay off the amount owed on another until you check and see which one has the lowest rate. While this is never considered the best thing to do financially, you can occasionally do this to make sure you are not risking getting further into Bayvantic Vet.
In order to minimize your credit card debt expenditures, review your outstanding credit card balances and establish which should be paid off first. A good way to save more money in the long run is to pay off the balances of cards with the highest interest rates. You’ll save more in the long term because you will not have to pay the higher interest for a longer period of time. Live by a zero balance goal, or if you can’t reach zero balance monthly, then maintain the lowest balances you can. Credit card debt can quickly spiral out of control, so go into your credit relationship with the goal to always pay off your bill every month. This is especially important if your cards have high interest rates that can really rack up over time. Just about everyone has used a credit card at some point in their life. The impact that this fact has had on an individual’s overall financial picture, likely depends on the manner in which they utilized this financial tool. By using the tips in this piece, it is possible to maximize the positive that Bayvantic Vet represent and minimize their danger. So you might start looking to solve your debt problem with these simple tips.