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President Fernando de la Rua's most pressing problem is a cash crunch, in large part a result of interest payments coming due on $144 billion in foreign debt. Investors are concerned that the $280 billion economy cannot grow enough to stay solvent.
Their target in Washington is the spring meetings of the Bank and International Monetary Fund, which begin next Sunday. The protest campaign against the sister institutions begins tomorrow with the launch an international campaign to persuade corporate investors not to buy World Bank bonds.
The International Monetary Fund has retracted criticism of Brazil's anti-poverty plan in the wake of national indignation and calls for IMF representative Lorenzo Perez to be kicked out of the country.
Thailand -- The outgoing chief of the International Monetary Fund got a rude retirement present Sunday when an American anti-free trade activist penetrated security at a trade conference and hit him with a pie in the face.
Mozambique, hit by the worst floods in 30 years, is having to pay $1.4 million a week in debt service, the Jubilee 2000 Coalition revealed in a statement to the press on 23rd February.
During the past few days a good deal of coverage has been focused on the Meltzer Commission Report on the International Financial Institutions, and what it might mean for the World Bank. Let me take this opportunity to lay out some real concerns that we at the bank have, and also to set the record straight.
Leaders of the Southern Africa Development Community Tuesday called on the international community to cancel all foreign debts owed by Mozambique.
But these jujitsu tactics may be running out of steam. Political momentum against the IMF ratcheted up in recent weeks, when the Meltzer Commission, a bipartisan advisory commission to the U.S. Congress, released its report.
Up to 10,000 people gathered in downtown Sofia on Wednesday to protest the country's unemployment, poverty and temporary-employment contracts.
In his first media interview since his party's landslide win in the Jan. 6 national election, telecommunications tycoon Thaksin Shinawatra also said his government would try to soften the ''tough'' terms imposed on Thailand by the International Monetary Fund (IMF).
The police used water cannons and steel fences to stop protesters on Saturday from getting within a mile of the World Economic Forum's Annual Meeting in Davos.
The heads of the World Bank and International Monetary Fund told 12 African leaders it would be impossible to cancel the entire debt of the world's poorest nations, as many have asked.
Kenneth W. Dam, a law professor and former top State Department official, will be nominated to become deputy secretary of the Treasury, the White House announced yesterday.
Anti-privatisation protestors are expected to descend on the streets of Johannesburg this month as they demand a reversal of the sale of their municipal water supply to French multinational Suez Lyonnaise des Eaux.
The Argentine government found itself Monday struggling to contain political fallout from the announcement three days earlier of major public spending cuts, as the first protesters took to the streets.
Aid cannot buy economic reforms the World Bank concedes in a new study on Africa which shows that imposing conditions to force developing countries to adopt unpopular reforms has in many cases been ineffective.
A World Bank official admitted Wednesday the institution's policies in Zimbabwe had failed, ironically blaming the failure on the government's willingness to follow its instructions as ''per book''.
The World Bank on Saturday said it had canceled a conference on how to fight poverty due to take place in Spain next month because of concerns anti-globalization groups would try to disrupt the event.
Thousands of anti-globalization and environmental activists converged Thursday on this port city as President Bush joined 15 European Union leaders for a summit expected to focus on the widening gap between Washington and its European allies.