DEMAND TO IMF AND WORLD BANK

*****    DEMANDS TO IMF AND WORLD BANK    *****

This is a call for endorsements of demands that 50 Years Is
Enough Network is making to the World Bank and IMF in relation
to their semi-annual meetings in April.  We encourage broad
circulation and sign-ons by ORGANIZATIONS supporting the
mobilization and/or who support global socio-economic justice.

PLEASE RETURN IT TO :

demands50years@yahoo.com
<mailto:demands50years@yahoo.com>.

PLEASE DO NOT SEND RESPONSES TO THE LISTSERV!



50 Years Is Enough: U.S. Network for Global Economic Justice

OUR DEMANDS OF THE IMF AND WORLD BANK
March/April 2000

On the occasion of the first meetings of the governing bodies of the
International Monetary Fund and the World Bank in the 21st century, we
call
for the immediate suspension of the policies and practices that have
caused
widespread poverty, inequality, and suffering among the world's peoples
and
damage to the world's environment. We assert the responsibility of these

anti-democratic institutions, together with the World Trade
Organization,
for an unjust world economic system.  We note that these institutions
are
controlled by wealthy governments, and that their policies have
benefited
international private sector financiers, transnational corporations, and

corrupt officials.

We issue this call in the name of global justice, in solidarity with the

peoples of the Global South and the former "Soviet bloc" countries who
struggle for survival and dignity in the face of unjust, imperialistic
economic policies.  We stand in solidarity too with the millions in the
wealthy countries of the Global North who have borne the burden of
"globalization" policies and been subjected to policies that mirror
those
imposed on the South.

Only when the coercive powers of the international financial
institutions
are rescinded shall governments be accountable first and foremost to the

will of their peoples.  Only when a system that allocates power chiefly
to
the wealthiest nations for the purpose of dictating the policies of the
poorer ones is reversed shall nations and their peoples be able to forge

bonds - economic and otherwise - based on mutual respect and the common
needs of the planet and its inhabitants. Only when integrity is restored
to
economic development, and both the corrupter and the corrupted held
accountable, shall the people begin to have confidence in the decisions
that
affect their communities.  Only when the well-being of all, including
the
most vulnerable people and ecosystems, is given priority over corporate
profits shall we achieve genuine sustainable development and create a
world
of justice, equality, and peace where fundamental human rights,
including
social and economic rights, can be respected.

With these ends in mind, we make the following demands of those meeting
in
Washington April 16-19, 2000 for the semi-annual meetings of the World
Bank
and the International Monetary Fund:

1.  That the IMF and World Bank cancel all debts owed them.  Any funds
required for this purpose should come from positive net capital and
assets
held by those institutions.

2.  That the IMF and World Bank immediately cease imposing the economic
austerity measures known as structural adjustment and/or other
macroeconomic
"reform," which have exacerbated poverty and inequality, as conditions
of
loans, credits, or debt relief.  This requires both the suspension of
those
conditions in existing programs and an abandonment of any version of the

Heavily Indebted Poor Countries (HIPC) Initiative which is founded on
the
concept of  debt relief for policy reform.

3.  That the IMF and World Bank accept responsibility for the disastrous

impact of structural adjustment policies by paying reparations to the
peoples and communities who have borne that impact.  These funds should
come
from the institutions' positive net capital and assets, and should be
distributed through democratically-determined mechanisms.

4.  That the World Bank Group pay reparations to peoples relocated and
otherwise harmed by its large projects (such as dams) and compensate
governments for repayments made on projects which World Bank evaluations

rank as economic failures.  A further evaluation should determine which
World Bank projects have failed on social, cultural, and environmental
grounds, and appropriate compensation paid.  The funds for these
payments
should come from the institutions' positive net capital and assets, and
should be distributed through democratically-determined mechanisms.

5.  That the World Bank Group immediately cease providing advice and
resources through its division* devoted to private-sector investments to

advance the goals associated with corporate globalization, such as
privatization and liberalization, and that private-sector investments
currently held be liquidated to provide funds for the reparations
demanded
above.

6.  That the agencies and individuals within the World Bank Group and
IMF
complicit in abetting corruption, as well as their accomplices in
borrowing
countries, be prosecuted, and that those responsible, including the
institutions involved, provide compensation for resources stolen and
damage
done.

7.  That the future existence, structure, and policies of international
institutions such as the World Bank Group and the IMF be determined
through
a democratic, participatory and transparent process.  The process must
accord full consideration of the interests of the peoples most affected
by
the policies and practices of the institutions, and include a
significant
role for all parts of civil society.

The accession to these demands would require the institutions' directors
to
accept and act on the need for fundamental transformation.  It is
possible
that the elimination of these institutions will be required for the
realization of global economic and political justice.

We commit to work towards the defunding of the IMF and World Bank by
opposing further government allocations to them (in the form of either
direct contributions or the designation of collateral) and supporting
campaigns such as a boycott of World Bank bonds until these demands have

been met.

*The International Finance Corporation (IFC) is a division of the World
Bank
Group.  Also included is the Multilateral Investment Guaranty Agency
(MIGA),
which insures private investments in Southern countries.

SIGNED:

50 Years Is Enough Network
Campaign Against Neo-Liberalism in South Africa (CANSA) - Johannesburg,
South Africa
Campaign for Labor Rights - Washington, DC
Ecumenical Support Services - Harare, Zimbabwe
Food First - Oakland, CA (USA)
Freedom from Debt Coalition - Manila, Philippines
Institute for Policy Studies, Global Economy Project - Washington, DC
Kenya Human Rights Commission - Nairobi, Kenya
LALIT - Port Louis, Mauritius
Nicaragua Network - Washington, DC (USA)
Zimbabwe Coalition on Debt & Development - Harare, Zimbabwe