Debt & Development Coalition Ireland - Request for urgent action TODAY

international | public consultation / irish social forum | press release

Saturday June 28, 2003 11:31

by Anonymous - (on behalf of ) Debt & Development Coalition Ireland.

28th June 2003

URGENT ACTION NEEDED TODAY

Apologies for the short notice on this important action. This piece of news has just reached our office today, so please if you have a wee bit
of time do make it count.

Part of the programme for the Debt and Development Coalition, which is EU
supported for 2003/2005 is entitled "Democratising Global Decision Making
on Debt and Adjustment".

So here is an urgent action for all of us, in helping to progress that goal.

Sincerely
Anne Reilly
Education and Campaigns

Debt and Development Coalition Ireland
All Hallows, Grace Park Road, Drumcondra
Dublin 9 Ph/Fax: (01) 857 1828
email: ddc@connnect.ie
website: www.debtireland.org

(Request is to send 2 quick e-mails, immediately, before 2 O'Clock this Monday 30th if possible - This request is located at the end of the below piece):-

Friday 27th June 2003.

Urgent Action Needed:

"US to try to Block Step Towards Democracy at the World Bank"

Proposals for modest reforms to make the World Bank more democratic are to be discussed next week at the World Bank, MONDAY, 30TH JUNE, including:-

• Increasing the share of votes held by developing countries - potentially from 39% to 44.3%
• Provide an additional Executive Director for African Countries. Currently 46 Sub Saharan African countries share 2 Directors while US, Japan , Germany, UK and France each have their own Director.

The US Executive Director to the Bank has circulated a statement trying to discourage support for the proposal from other countries.

While this is a modest proposal - far from the full democratisation of the World Bank we as a coalition are calling for - IT IS IMPORTANT THAT THE US DOES NOT SUCCEED IN TORPEDOING YET ANOTHER INITIATIVE AT GLOBAL LEVEL. While the US holds a veto on some decisions at the World Bank, its veto will not apply to this discussion.

Please email the Executive Director who represents Ireland at the World Bank (Canadian Executive Director: Marcel Masse email: mmasse@worldbank.org ), and the Irish representative, (Irish Representative: Donal Cahalane: email: dcahalane@worldbank.org ),
as soon as possible making your views known e.g. something along the lines.

'I/we have heard that the US government may attempt to block progress on proposed reforms to increase democracy at the World Bank. While
we understand that the proposals on the table represent only a small step towards democratisation, achieving more equitable
representation at the World Bank are vital. We hope that you will resist any effort to water down the modest proposals on the table'.

REMEMBER THAT WASHINGTON IS ABOUT 5 HOURS BEFORE US, SO MONDAY MORNING, ACT NOW TO ENSURE OUR CONCERNS ARE HEARD.

Canadian Executive Director: Marcel Masse email: mmasse@worldbank.org

Irish Representative: Donal Cahalane: email: dcahalane@worldbank.org

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Comments (2 of 2)

Boycott the World Bank

by Aisling - World Bank Boycott

Mon Jun 30, 2003 18:23

aislingw at care2 dot com

The World Bank Boycott campaign is a coalition of groups around the world working to "de-fund" the bank by encouraging investors to boycott World Bank bonds. The campaign has 3 main demands:
1- The 100 %cancellation of illegitimate debt
2- An end to structural adjustment and austerity programmes.
3- The withdrawal of World Bank funding from oil, gas, mining and dam projects
The campaign has been very sucessful so far in the US where over 90 institutions to date have signed a resolution saying that they will not purchase World Bank bonds. Institutions that the campagin targets include Universities, Trade Unions, City Councils, Religous orders, and Pension Funds.
For more info on the campaign in the US see http://worldbankbondsboycott.org, and the European site http://wbboycotteurope.org
For details of local campaigns getting started in Ireland, email me at the above address

Very good piece on the HUGE importance of the democratic deficit

by Anonymous

Sat Jun 28, 2003 11:43

For an excellent piece written by Debt & Development Coalition Ireland's Niamh Gaynor, on "Tackling the Democratic Deficit in Debt Resolution", see:-

www.debtireland.org/updates/Democratic-Deficit-in-Debt-Resolution.htm

"The Jubilee campaign, whilst successful in increasing - albeit insufficiently - the amount of debt cancellation on offer, also successfully exposed the ineffectual system of global governance which left resolution of the crisis in the sole hands of creditors. This creates a situation of 'moral hazard' in decision making where the IFIs are judge and plaintiff. Not alone has this mitigated against resolution of the current crisis, it also means there are no checks and balances against future debt crises. If creditors control the debt relief mechanisms, there is less pressure on them to ensure greater responsibility in future lending. The next step therefore, is to work towards the establishment and ratification of a new fair and independent system for dealing with sovereign debt"

DDCI Programme (2003-2005)

If creditors control the debt relief mechanisms, then obviously, no matter how much is done, there is no chance of real success in debt relief, as it is not in creditors commercial interests. This has been amply demonstrated from the negligible amount of debt relief since all the world hype and promises about Jubilee 2000.

This MUST be changed.

Next Monday's meeting at the World Bank is a step to help make this change. Try and do your bit, if you can, to stop the U.S., from yet again trying to prevent this change.

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Debt & Development Coalition Ireland - Request for urgent action TODAY

Comments (2 of 2)