The International Monetary Fund (IMF) was established in order to supply member states with money to help them overcome short-term-balance-of-power payment difficulties. This money however is only made available after recipients have agreed to policy reforms in their economies - to implement an SAP.
The IMF pressuries these countries into implementing Government policies which involve downsizing of Government Departments, the implementation of "User Fees" for Health and Education in the poorest countries, cut backs on spending in those areas, the privatisation of public facilities,.deregulation and the replacement of staple food crops for cash crops etc. This leads directly to rises in unemployment, cut backs in wages and increased illness, suffering and death. Also not to mention the serious environmental destruction that has also resulted directly from these policies.
In Zambia a UNICEF researcher observed a 14 year old boy with acute malaria turned away from a health clinic for want of a 33 cent registration fee. According to the report , "within 2 hours, the boy was brought back dead"
In Dar es Salaam, Tanzania the three public district hospitals saw attendance drop by 53.4% between the second and third quarters of 1994, when user fees were introduced.
The enforced increasement of production in export crops has led to a glut on the international market as many poorer countries grow the same crops, directly leading to a fall in prices. Therefore workers on plantations and farms get lower wages than ever.
It is the world's largest debtors who are chopping down their forests the fastest. Brazil is the world's largest deforester and one of its largest debtors, owing US$112 billion. It is cutting a staggering 50,000 sq km of forest every year.
Decisions are made by a vote of the Board of Executive Directors, who represent the member countries. However, voting power is deteremined by the level of a nation's financial contribution. Therefore, the US has roughly 17% of the vote, with the G-7 holding a total of 45%. Due to the scale of its contributions the US has always had a dominate voice and has at all times used this to its own gain. At the same time, developing countries have relatively little power, therefore having basically no say in polices or decision being made which have a direct impact on their own countries.
This year on September 26th we shall see the 55th Annual meeting of the WB and IMF.
In order to oppose institions we need the support of everyone effected, the majority of the worlds population.
The S26 Collective is a group of individuals and organisations who are gathering together to express our dissatisfaction with the vision and policies of the IMF and the WB.
Next Meeting - call 086 893 1600, or Email s26cork@hotmail.com
PEACEFUL PROTEST
26TH SEPTEMBER, SOUTH MALL
CARNIVAL FOR GLOBAL JUSTICE
30TH SEPTEMBER