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Newswire on the IFIs

  • IMF unfreezes $160mn and recognizes Honduran government as legitimate
  • IMF admits mistakes: says asset booms matter to fiscal policy
  • IMF criticised for failing to cancel Haiti's debt, a month and a half after earthquake
  • Global climate battle plays out in World Bank
  • World Bank's online game isn't a real-world solution, critics say
  • IMF calls on China and emerging nations to reduce stimulus faster than advanced economies
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Should all of Haiti's remaining multilateral and bilateral debts be cancelled? (See Issue Update Jan 2010):


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Institutions

The Canadian government is a key actor in the international finance scene. It is one of very few governments to be represented on:

  • The Group of Eight (G8) and Group of 20 (G20), where the leaders of these countries discuss key global development and finance issues, and at international bodies such as the United Nations, where they discuss issues related to human rights and financing for development;
  • The Paris Club of creditor nations, where discussions relating to bi-lateral debt take place;
  • The Organization for Economic Cooperation and Development (OECD), where discussion on overseas development assistance (ODA or aid) take place, matters related to export credit agencies and corporate accountability. ECAs support a number of questionable projects;
  • All the Boards of the World Bank Group (WBG) as an Executive Director, where international development issues are discussed and coordinated;
  • The Board for the International Monetary Fund (IMF), which reviews countries' economic policies and lends money to developing countries facing financial or debt crises. IMF support is conditioned on countries implementing a large number of policies to "structurally adjust" its economy;
  • All the Board of Governors of the Regional Development Banks (Asian Development Bank, African Development Bank and the European Bank for Reconstruction and Development) directly, or Regional Development Banks (RDBs).

Canada is a key player among these institutions and, when pushed, can play an important role in advocating for greater transparency and accountability through their institutional reform.

IN THIS SECTION

Institutions
  • Export credit agencies
  • International Monetary Fund
  • World Bank Group
  • Other (G8, G20 and UN)

Issues

  • Aid
  • Canada, the Bank and Fund
  • Conditionality
  • Corporate accountability
  • Debt (bilateral and multilateral)
  • Financing for Development
  • Human rights and the IFIs
  • IFI accountability

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