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Newswire on the IFIs
- Ghana: Prof Akilagpa slams World Bank, IMF policies
- The Day After: Europe Rejects Austerity
- Uganda: World Bank under attack for aiding land grabs
- Brazil's Lula slams rich countries and IMF
- Fair rules on debt: developing countries try to force the IMF's hand
- Action Aid report faults IMF for fuelling poverty in Sierra Leone
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Executive Summary available here in pdf
Full Report available here in pdf
The Halifax Initiative Coalition and the Canadian Council for International Co-operation have co-authored the report "At the Table or in the Kitchen: CIDA's New Aid Strategies, Developing Country Ownership and Donor Conditionality," which seeks to understand the implications of three converging elements in CIDA's implementation of its 2002 policy the agency's reliance on PRSPs to define country priorities for poverty reduction, its support for program based approaches to deliver increasing aid budgets for poverty reduction, and its increased coordination with the World Bank and other major donors in these PBAs.
Revised - June 18 2003
Structural Adjustment in Canada
Most Canadians would be surprised to learn that economists from the International Monetary Fund (IMF) annually visit Canada to dispense advice. We tend to think of the IMF as an institution that prescribes strong medicine, known as Structural Adjustment Programs (SAPs), only to less developed countries. In fact our governments regularly follow the same bitter prescriptions.
In 1990 Prime Minister Brian Mulroney boldly declared that Canada needed to undergo structural adjustment which he promised to deliver through free trade agreements with the US and Mexico and harsh spending cuts. Little changed when the Liberals came to power. Much of the content of Finance Minister Paul Martin’s crucial 1995 budget that slashed our social safety net followed directives that came straight from the IMF.
This information was provided to the Halifax Initiative Coalition (the Social Justice Committee is a member) Sept. 30 1999, in response to a request under the Access to Information Act.
SECRET
INTERNATIONAL MONETARY FUND
CANADA
Article IV Consultation Discussions
Statement by the Fund Mission to the Minister of Finance
Ottawa, December 7, 1995
In Canada, CASA is being undertaken by a Steering Committee of non-governmental organizations from a number of sectors, including labour, development and anti-poverty organizations. As Canada does not receive structural adjustment loans from international financial institutions, the Steering Committee in Canada chose to focus on the 1995 budget, in which the federal government pushed through many structural adjustment reforms, reforms recommended to Canada by the IMF in its Article IV consultations. A first national forum was held, December, 1998 from which four research areas were chosen:
In Canada, CASA is being undertaken by a Steering Committee of non-governmental organizations from a number of sectors, including labour, development and anti-poverty organizations. As Canada does not receive structural adjustment loans from international financial institutions, the Steering Committee in Canada chose to focus on the 1995 budget, in which the federal government pushed through many structural adjustment reforms, reforms recommended to Canada by the IMF in its Article IV consultations. A first national forum was held, December, 1998 from which four research areas were chosen:
In Canada, CASA is being undertaken by a Steering Committee of non-governmental organizations from a number of sectors, including labour, development and anti-poverty organizations. As Canada does not receive structural adjustment loans from international financial institutions, the Steering Committee in Canada chose to focus on the 1995 budget, in which the federal government pushed through many structural adjustment reforms, reforms recommended to Canada by the IMF in its Article IV consultations. A first national forum was held, December, 1998 from which four research areas were chosen:
In Canada, CASA is being undertaken by a Steering Committee of non-governmental organizations from a number of sectors, including labour, development and anti-poverty organizations. As Canada does not receive structural adjustment loans from international financial institutions, the Steering Committee in Canada chose to focus on the 1995 budget, in which the federal government pushed through many structural adjustment reforms, reforms recommended to Canada by the IMF in its Article IV consultations. A first national forum was held, December, 1998 from which four research areas were chosen:
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The World Bank and the IMF have used their considerable power to force countries to privatize natural and public resources. This report documents some of the impacts, ranging from reduced access to essential services, loss of jobs and increased corruption.
Rethinking the international financial system during a time of crisis
Introduction
On October 19 and 20, 2009, the Halifax Initiative held a conference, co-hosted by The North South Institute, the University of Ottawa and the School of International Development and Global Studies (SIDGS), entitled "What’s Missing in the Response to the Global Financial Crisis?" The meeting brought together experts from a range of backgrounds to analyze the challenges facing the global economy, discuss the ways in which the international community has responded to the current financial crisis, and identify shortcomings in these responses.
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The “Private Interests vs. Public Goods” tour aims to bring Southern activists working on privatization issues at the local or national level to share their stories and strategies with Canadians facing the privatization of health care, education, energy, water and other public services.
Get a copy of "Empty Promises - The IMF, the World Bank, and the Planned Failures of Global Capitalism", which includes over 30 brief articles detailing everything you wanted to know about these two institutions. For press articles resulting from the tour go to the Media button on the navigation bar, to Press Responses to Structural Adjustment. |
What’s changed in the international financial system and its institutions, what hasn’t and what needs to
Executive Summary
Back in 1995, the G7 met in Halifax during a “time of change and opportunity.” The meeting took place in a context of mounting deficits and debt crises in countries in the South; in the wake of economic collapse in Mexico; and amid strong global criticism from civil society, the media and governments about the World Bank and International Monetary Fund’s (IMF) austere neo-liberal structural adjustment policies.
A lot has changed since then, partly in response to the Halifax G7 Summit and subsequent G7 and G8 meetings. Too many of these improvements, however, exist only on paper. Beyond the surface, the neo-liberal, market-oriented bias that guides the Bank and Fund’s agenda and thinking has not altered.
The 2010 G8 Summit in Toronto in 2010 takes place during another “time of change and opportunity.” The financial crisis has spurred many civil society organizations (CSOs) to insist on far-reaching changes to the global financial system and its institutions. Clearly, as this publication will illustrate, 15 years of refusing to deal with the manifest shortcomings of the global economic system is enough.
