March 24, 2006

The Honourable James Flaherty
Minister of Finance
Department of Finance Canada
140 O'Connor Street
Ottawa, ON K1A 0G5

Re: Multilateral Debt Relief Initiative

Dear Minister Flaherty,

Last July, at the Gleneagles Group of Eight (G-8) Summit the Canadian government agreed to cancel the debts of 18 developing countries through what has subsequently become known as the Multilateral Debt Relief Initiative (MDRI). The MDRI covers International Monetary Fund (IMF), International Development Association (IDA) and African Development Fund (AfDF) debt. While we welcomed the historic commitment to 100% debt cancellation, we were equally concerned that the initiative did not go far enough in terms of the countries covered and its foundation in the deeply flawed Heavily Indebted Poor Country (HIPC) Initiative.

February 28, 2006

The Honourable James Flaherty
Minister of Finance
Department of Finance Canada
140 O’Connor Street
Ottawa, ON K1A 0G5

Dear Minister Flaherty:

On behalf of the Halifax Initiative Coalition, I would like to congratulate you on your recent appointment as Minister of Finance. Over the past ten years, the Halifax Initiative has developed a good working relationship with the Department of Finance, and in the coming years we hope to strengthen this relationship.

December 15, 2005

The Honourable Ralph Goodale
Minister of Finance
House of Commons
Ottawa, ON,
K1A 0H5

Dear Minister Goodale,

The IMF is proposing to delay debt cancellation for 6 of the 18 countries that have already reached HIPC Completion Point. The IMF Board will decide to accept or reject the staff recommendation to further require 6 countries to undertake structural reforms next Wednesday.

We applauded your efforts in July and again in September to ensure that countries at, or upon reaching World Bank and International Monetary Fund "Completion Point" would receive immediate full cancellation of debts owed to the IMF, International Development Association and African Development Fund. The IMF is now proposing that at least 6 of the 18 have to wait to receive immediate debt cancellation until they further restructure their economies as per IMF advice.

Recieved December 21, 2005.

2005FIN174335

Mr. Graham Saul
International Program Director
Friends of the Earth Canada
Co-Chair of the Halifax Initiative Coalition
153 Chapel Street
Ottawa, ON KIN 1H5

Dear Mr. Saul:

Thank you for your correspondence of November 1, 2005 regarding the International Finance Corporation's (IFC) revision of its environmental and social safeguard policies.

The IFC's Policy and Performance Standards on Social and Environmental Sustainability are of fundamental importance not only for the operations of the IFC, but more broadly for the lead role that the IFC plays in setting standards for the private sector worldwide. Recognizing the importance of this IFC review, the Department of Finance has consulted closely with other government departments as well as with interested non-governmental organizations to formulate its recommendations.

Click here for pdf

November 1, 2005

The Honourable Ralph Goodale
Minister of Finance
House of Commons
Ottawa, Ontario
K1A 0A2

Dear Minister Goodale,

As IFC nears the final stages of its safeguard policy revision process, it is essential that Governments and Board members actively encourage International Finance Corporation (IFC) to make further improvements to its Sustainability Policy and Performance Standards during the public comment period, which ends November 25th.

Full Report PDF

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Summary Analysis of the June 11, 2005 G8 Debt Proposal
On June 11, Finance Ministers from the G8 countries announced a debt remission proposal that would cancel multilateral debts owed to the World Bank, the International Monetary Fund (IMF) and the African Development Bank's African Development Fund (AfDF) by 18 low-income countries.

The G8 proposal offers 100% debt stock cancellation for debts owed to three multilateral financial institutions for the 18 countries that have reached their 'completion points' through the Heavily Indebted Poor Country (HIPC) Initiative. A further 9 HIPC 'decision point' countries, who have not completed or have stalled in their World Bank/IMF programs, might qualify in the near term. The deal could also potentially be extended to the 11 remaining HIPCs that have not yet reached their decision points.

The New President's Challenges ' Who's Going to Reform the World Bank?
This Wednesday Paul Wolfowitz will walk into an imposing glass and steel building on 18th Street in Washington, D.C. and start his first day in what could be the most challenging job he has ever held. As the 10th President in the 60-year history of the World Bank, Mr. Wolfowitz will have an unprecedented opportunity to help steer the direction of development as we rapidly move towards the Millennium Development Goal targets. 

His new position could allow him to help to truly bring opportunity, choice and prosperity to the poorest areas of the globe. But to do so he will have to confound his critics, defy skeptics and dramatically change both his approach to the international community and more importantly the attitude and engagement of the institution he now heads.

PDF of Full Report available here

Version Francaise PDF

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Executive Summary
At the end of March annually, the Department of Finance releases its report to Parliament on the operations of the Bretton Woods institutions[1] and their relationship to Canadian priorities, commitments and interests. Canada is one of only a handful of countries that report to their legislative bodies on its activities at these institutions.

The 2004 report provides some good background information on the history, mandate and operations of the institutions. It falls short, however, of providing the qualitative and quantitative information necessary to provide Canadians with an adequate picture of Canada's relations with them. As this report is, effectively, the only means by which Parliament and the public is officially informed of Canada's relations with these institutions, the lack of information creates a serious gap in public accountability and awareness.

New Report to Parliament on Relations between Canada and the Bretton Woods Institutions Comes up Short

Ottawa - On the eve of the annual spring meetings of the World Bank and International Monetary Fund in Washington, DC, the Halifax Initiative Coalition released a new report analyzing how the federal government publicly accounts to Canadians on its relations with these powerful multilateral institutions.

Parliament is informed of the activities and operations of the Bretton Woods Institutions through the tabling of the annual report entitled the Report on the Operations Under the Bretton Woods and Related Agreements Act, which is released annually at the end of March.

March 17, 2005

The Honourable Ralph Goodale M.P., P.C.,
Minister of Finance
140 O'Connor Street
Ottawa, Ontario
K1A 0G5
Via Fax: 995-5176

RE: Canadian NGOs Call for the Government of Canada to Oppose the Nomination of Paul Wolfowitz to the position of President of the World Bank

Dear Minister Goodale,

We are writing to express our strong concern with the nomination by the US government of Paul Wolfowitz to become the next President of the World Bank. We call on the Government of Canada to direct its Executive Director to the World Bank, Marcel Massé to strongly oppose the nomination and to vote against it.