Home     Writers     Op/Ed     Book Reviews     News     Bookstore     Photoshops     Submit     Search     Contact Us     Advertise  
  You are here: 





Africa Action Joins Over 60 African Organizations in Global Week of Action on Debt
Saturday, 20 October 2007 12:57
(Washington, DC) – Today Africa Action called on the U.S. Executive Directors to the International Monetary Fund (IMF) and the World Bank to take decisive action on the critical issue of debt cancellation at the Annual Meetings this weekend. A progress report will be given at the meetings on the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI). In addition to climate change and the International Development Association’s (IDA) 15th round of replenishment funding, Africa Action anticipates that much attention will be given to the agendas of the two new leaders of the institutions.

Incoming IMF Managing Director Dominique Strauss-Khan has already emphasized institutional reform as a priority, and freshly appointed World Bank President Robert Zoellick recently described the institution as a “brain trust” and emphasized the connection between aid and trade.

Marie Clarke Brill, Interim Executive Director of Africa Action, said today, “It has become increasingly clear that the IMF and World Bank suffer from a crisis of legitimacy. The institutions must take immediate action to provide complete debt cancellation without harmful conditions, starting with Liberia this weekend. Without addressing illegitimate debt, the institutions will be revealed for what they are – not the ‘brain trust’ of global development but a Bank and a Fund that prioritize payment from the poorest.”

The IMF and World Bank Annual Meetings come at the end of a Global Week of Action on Debt and IFIs (October 14 – 21, 2007). Organizations around the world are taking action calling for debt cancellation, including over 60 organizations in 21 countries in Africa. The week began with actions in Tanzania honoring Mwalimu Julius K. Nyerere (1922-1999) who led Tanzania to independence in 1961 and was a critic of IMF and World Bank policy. Nyerere advocated for debt repudiation, saying, “Must we starve our children to pay our debts?”

“The impressive number of organizations around the world, particularly in Africa, that are engaging in the Global Week of Action indicates the vibrancy of the movement for debt cancellation and economic liberation. It is long past time for wealthy nations and institutions, including the IMF and the World Bank, to provide complete debt cancellation without harmful conditions. Without debt cancellation, African nations will continue to struggle for economic sovereignty while siphoning resources desperately needed to fight HIV/AIDS to pay off illegitimate debts,” said Marie Clarke Brill.

In the U.S., Africa Action engaged as a member organization of the Jubilee USA Network, joining Members of Congress and religious leaders to break a 40-day rolling fast and supporting the Jubilee Act (H.R.2634 and S.2166). The Jubilee Act provides debt cancellation for 67 countries, many in Africa.

Africa Action recently collected 125 organizational signatures on a civil society letter to the new IMF Managing Director outlining the necessary actions to deal with key institutional obstacles to addressing poverty in Africa. You can access this letter at http://www.africaaction.org/campaign_new/docs/0710_CSO_Letter_FINAL.pdf.
More from this author:
Privacy Policy (11445 Hits)
Privacy Policy for V.O.F. Expathos (Atlantic Free Press) V.O.F. EXPATHOS (ATLANTIC FREE PRESS) PRIVACY POLICY Welcome to V.O.F....
Terms of Use (12241 Hits)
V.O.F. Expathos Web Site Agreement The materials that appear on this website are available free of charge. They are published...
About (12640 Hits)
Atlantic Free Press was founded in September 2006 by Publisher Richard Kastelein of V.O.F. Expathos, in the Netherlands and Editor - Journalist Chris...
Advertise (43179 Hits)
To advertise please contact Editor @ atlanticfreepress dot Com ...or use the googleads services here
Help (11968 Hits)
Contact us by email.
Related Articles:
The Mushroom Cloud over the U.N. (8527 Hits)
The Bush administration has repeatedly rejected North Korea’s appeals for a “non-aggression” pact. Bush believes that he has the...
Let's March in January! An Impeachment Call to Action (12646 Hits)
by Dave Lindorff I'm going to go out on a limb here and predict that, barring some incredible act of criminal cynicism such as the...
Endgame: The Lights Are Going Out All Over Baghdad (12064 Hits)
by Chris Floyd While the American election campaign thrashes toward the finish line with the usual spasms of witless diversion and...
Fasten your seat belts for global warming (8145 Hits)
by Mickey Z. Is O.J. Simpson more important than the greenhouse effect? Consider this: I just typed "O.J. Simpson" into a Google...
India on 20 cents a day - The fine print in the reporting of global poverty estimates (5544 Hits)
by Aseem Shrivastava The World Bank — which has to be applauded for having made the first such attempt — started making international...

Add this page to your favorite Social Bookmarking websites
Comments (0)add comment

Write comment
smaller | bigger



Top 123