September: IMF/World Bank Events

The people are all affected by these cutbacks and by exclusion, misery and poverty - nobody escapes

Marta Maffei Argentina Civil Service Union

As a result of SAPs, people living in poor countries have shouldered an incredible burden. Cuts in health care and education - non-essential services from a global economic perspective - yield short term gains used to address escalating debts at extraordinary social cost. Natural resources become up-for-grabs at bargain prices for quick debt relief, leading to exploitation and devastation of the environment, exacerbated by mandatory cancelation of environmental protection policies and programs. IMF/World Bank enabled development projects have also lead to massive displacement of indigenous people incompatible with the global economy. In many cases these organizations have recognized responsibility for widespread economic disasters such as the Asian financial crisis (1997).

These undemocratic institutions and their policies have received increased attention from a growing decentralized international community, with many voices representing a wide range of concerns. Some of these include: a turnaround of the unchecked sovereignty of the IMF and World Bank over local elected governments; cancelation of unpayable debt; support for workers' rights; an increase in environmental protection; a shift from a reliance on export economics towards self-sufficient industries and agriculture; and a democratic forum for participation of civil society in decision making processes.

Schedule of Events, Fall 2002 events in Princeton Sept. 22 in Princeton 4:30 PM, location tbd (watch this space!) END CORPORATE RULE: Global struggles against the IMF and World Bank A Teach-In Tour on the Impact of – and the Resistance to – the IMF, World Bank, and Corporate Domination, featuring Mzonke Mayekiso and Sarah Mtembu, of the National Association of Residents and Civics Organisations (South Africa) and Shelley Rao, of Jubilee South (Fiji). events in Washington DC Sept. 24 in Washington DC (13th & Penn) Demand Justice for Workers in DC! Rally to support workers at Ronald Reagan building Sept 25-29 in DC Organizers and activists CONVERGE. Trainings, teach-ins, coordination for Fall and beyond Sept 25-27 in DC End Corporate Rule Teach-In: Global Struggles Against the IMF & World Bank Sept. 26 in DC (day) (evening) Power for the People / Clean Energy Rally Interfaith Vigil Sept. 27 in DC (all day) Anti-Capitalist Convergence Action. People’s Strike. Sept. 28-29 in DC IMF & World Bank Group Annual meetings Sept. 28 in DC (12 Noon, the Ellipse) (evening) Mobilization for Global Justice Rally & March QUARANTINE ACTIONS! Sept. 28 in DC (6PM, 15th and Columbia Rd NW) Rhythms of Revolution- Protest In Song

Contact Emily for general questions.

During the 1980s under structural adjustments, instead of flowing North to South through loans and aid investment, more money flowed from South to North in debt servicing, capital flight, and profits from transnational corporations and the privatization of state-owned companies. In truth and fact, the countries of the South are subsidizing the countries of the North. We are helping to subsidize the United States deficit.

Diana Lima Handem -- Co-founder, Associacao de Estudos e Alternativas (Guinea-Bissau)

Links

• A letter to Congress by Noam Chomsky, Walden Bello, Dennis Brutus, et al. calling for no increase in funding to the IMF. It provides a succinct overview and criticism of IMF/World Bank policy.
• The D-Left maintains an archive of IMF/WB resources
• 50 Years Is Enough!
• Global Exchange
• Public Citizen's Global Trade Watch
• Amnesty International's Just Earth! campaign draws attention to human rights violations against those who protest environmental devastation from multinational corporations.

In almost all developing countries that have undertaken rapid trade liberalization, wage inequality has increased, most often in the context of declining industrial employment of unskilled workers and large absolute falls in their real wages, on the order of 20-30% in Latin American countries.

United Nations