Diakonia - People change the world

Messages ahead of the IMF and World Bank annual meetings 2014

Diakonia has together with twelve other Nordic organizations sent letters to the International Monetary Fund (IMF) and World Bank Nordic/Baltic Executive Directors and relevant Nordic Ministers, ahead of the Annual Meetings of the two institutions that will take place October 10-12, in Washington DC.

10/8/2014 Publisher: Penny Davies

In Sweden, the letters are directed to the new Minister of Finance Magdalena Andersson (the letter concerning the IMF) and the new Minister for Development Cooperation Isabella Lövin (the letter concerning the World Bank).

Key messages include the following:

To ensure the World Bank does not weaken its safeguard policies in the ongoing review of these policies. Civil Society Organisations (CSOs) across the world have expressed concern as the current draft represents a major dilution of existing World Bank safeguards, including the undermining of indigenous peoples rights and the rights of workers and the dilution of biodiversity standards. 

To work for new solutions to developing country debt problems, including encouraging the IMF to support an international framework for debt restructuring within the UN.

To ensure the IMF refrains from policy conditions that  can contribute to increased inequality levels, such as conditions that require the reduction of public expenditure on health, education and social security. At the same time we welcome the IMF’s focus on inequality and its relation to both growth and fiscal policy this year.