Conditionalities
For countries to qualify for multilateral debt relief, they must successfully implement structural adjustment programmes. Halifax Initiative has long called for debt cancellation to be de-linked from structural adjustment conditionality. Structural adjustment conditions are designed by the Bank and the Fund to get countries to a point where their export earnings can meet their debt servicing requirements. These conditions have exacted enormous tolls on the poor and the environment, and as well have generally failed to improve the economic performance of countries. Often these conditions are politically or socially impossible for countries to implement. As well, external factors, such as natural disasters or a crash in commodity prices, can interfere with a country's abilities to meet IMF or World Bank targets.
Yet in country, after country, the World Bank and the IMF has refused to provide much needed debt relief, until conditions are implemented.
Section Articles
Two Reports - Driving under World Bank and IMF Influence (October 2005)
Two reports, prepared in 2005 by the Social Justice Committee, look at the role of the World Bank and the IMF in Guyana and Senegal, highlighting how excessive control of the institutions over development plans undermines democracy and the programs themselves.
Joint Letter to the PM on Debt - September 12, 2005.
Canadian NGOs Call on Canada to Demonstrate Leadership at Upcoming Meetings to Push International Community to take Action to Eradicate Poverty.
Report - Analysis of G8 Debt Deal (June 2005)
KAIROS and Halifax Initiative Coalition provide short analysis of the details of the G8 Finance Minister's debt deal announced on June 11, 2005.
Send a Letter to the Prime Minister for G8
I support the leadership role Canada has played in moving the G7 to accept the principle of 100% multilateral debt cancellation for the world's poorest countries. However, much more remains to be done. I call on you to take leadership in resolving the two major shortcomings in the proposal when you and the other G8 leaders meet in Scotland this July for your annual Summit.
Join the Call for Debt Cancellation NOW!
Canada's Make Poverty History campaign is calling for the unconditional cancellation of 100% of the debts owed by the poorest countries as well as more and better aid, trade justice and an end to child poverty in Canada.
KAIROS Statement on Global Day of Action Against Debt Domination (December 2004)
A statement by KAIROS calling for multilateral debt relief, greater action on the part of G7 nations and recognition that odious and illegitimate debt should not have to be repaid.
At the Table or in the Kitchen? (September 2004)
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.
Impoverishing a Continent: The World Bank and the IMF in Africa (July 2004)
The World Bank and the International Monetary Fund (IMF) are the two most powerful institutions in global trade and finance. Since 1980, the United States government which dominates both bodies has used them to economically subjugate the developing world. The World Bank and the IMF have forced Third World countries to open their economies to Western penetration and increase exports of primary goods to wealthy nations. These steps amongst others have multiplied profits for Western multinational corporations while subjecting Third World countries to horrendous levels of poverty, unemployment, malnutrition, illiteracy and economic decline. The region worst affected has been Africa.
Brief to MPs regarding privatization tour
While in Ottawa, Richard Mokolo from South Africa and Sylvester Ejiofoh from Nigeria, met with some Members of Parliament to discuss the situation in Africa. This brief is a follow-up to the lively discussion.
Water, Land, Labour: The Impacts of Forced Privatization in Vulnerable Communities (June 2003)
"Water, Land, and Labour: The Impacts of Forced Privatization in Vulnerable Communities" 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.
Issue Brief: Conditions for debt relief (May 1999)
The World Bank and IMF adopted new rhetoric about reducing poverty, and linking debt relief primarily to poverty actions in the fall. But countries entering the debt relief process are still facing the same old conditions that have nothing to do with poverty reduction, and can actually increase the hardships of the poor.
Letter to Mr. Callisto Madavo: World Bank, Vice-president- Africa Region ()
We, the undersigned citizen's organizations from around the world, Support the right of the citizen's of Ghana to participate in public debate, discussion and decision-making about whether the proposed leasing of the Accra-Tema water system to private transnational corporations (privatization or private sector participation) is the best way to promote accessible and affordable water and to ensure public health, social equity and environmental sustainability.
Fact Sheet: Debt delays (December 2001)
After the IMF delayed the HIPC implementation for Nicaragua, here is the summary of other country cases, their social context, and delays in debt relief:
Letter to Ecuadorian President Noboa (Feburary 2001)
We write to you as representatives of civil-society organizations concerned about the impact of IMF- and World Bank-imposed structural adjustment programs around the world. We are alarmed by reports of violent suppression by your government of the legitimate public protests against the most recently implemented adjustment program in Ecuador.
PRSP Review Submission (June 2000)
The Halifax Initiative Coalition members include development, human rights, environment and church organizations. In Canada, it is the main voice for reform of the international financial institutions so that they better serve the poor. Like many others, the Halifax Initiative Coalition initially extended a tentative welcome to the Poverty Reduction Strategy Process, hoping that the language of "country ownership" and "civil society participation" would, in time, result in some level of empowerment of people affected by IFI policies and programs.
Excerpts from a letter sent to the IMF & WB (July 1999)
Excerpts from a letter sent to: Tom Bernes, Executive Director for Canada, International Monetary Fund and Terrie O'Leary, Executive Director for Canada, World Bank
ESAF - No Solution to Multilateral Debt
June 5, 1996
