[stop-imf] New WDM Report: Debt and Destruction in Senegal

[Robert Weissman]

Dear Friend,

New WDM Report: Debt and Destruction in Senegal

While much attention over the past few years has been focused on the ability
of developing countries to get a fair deal in WTO trade talks, the World
Bank and International Monetary Fund (IMF) have been continuing to push
unilateral liberalisation on the poorest countries.

Despite the change in rhetoric from 'Structural Adjustment Programs' (SAPs)
to 'participatory' 'Poverty Reduction Strategy Papers' (PRSPs), the Bank and
Fund continue to ignore public dissent and push the same failed
policies. In
the past two years it has become clear that, not only are these policy
conditions being attached to new loans, they are also attached to the
provision of debt relief under the Heavily Indebted Poor Countries (HIPC)
Initiative.

Whatever the claims of the institutions themselves, the motives of their
political masters are obvious. For example, the US Government recently
claimed that the Bank and Fund should only be supporting countries that are
prepared to liberalise trade. Post-Cancun, the US seems even more intent on
undermining the negotiating positions of developing countries in the WTO by
forcing them to liberalise unilaterally.

Earlier this year, in our 'Treacherous Conditions' report, WDM demonstrated
how policies such as trade liberalisation, privatisation and investment
deregulation are unsuccessful, undemocratic and unfair. We now bring you a
detailed case study of IMF and World Bank intervention in Senegal.

Written by Senegalese researcher and campaigner, Demba Demebele, 'Debt and
Destruction in Senegal' is a damning indictment of the past twenty years of
Bank and Fund policies in the country. As well as providing a comprehensive
history of donor intervention, the report highlights two recent case
studies; the failed liberalisation of Senegal's groundnut sector and the
failed privatisation of electricity company SENELEC. The report, along with
other relevant materials (including 'Treacherous Conditions'), can be found
at: <http://www.wdm.org.uk/campaign/colludo/resources.htm>

The release of this report coincides with the launch of WDM's 'Colludo:
whodunit to the world's poor' campaign. Loosely based on a well-known board
game in the UK, the campaign seeks to expose those responsible for
pushing a
radical free market agenda onto the poorest countries. For more information,
see: <http://www.wdm.org.uk/campaign/colludo/colludo.htm>

WDM hopes that you find the report useful and hopes that you will support
the continuing global struggle by many individuals and organisations to stop
the IMF and World Bank pushing these free market policies on developing
countries.

Best Wishes,

Peter Hardstaff
Head of Policy

For hard copies of the report, please contact Tim Jones: tim@wdm.org.uk


---------------------------------------------
Tim Jones
Information & Research

World Development Movement
25 Beehive Place
London
SW9 7QR
United Kingdom

Tel: 020 7274 7630
Fax: 020 7274 8232
www.wdm.org.uk