[stop-imf] Zambia: Condemned to Debt

Wed, 26 May 2004 02:52:03 -0400

From: Tim Jones <Tim@wdm.org.uk>

Dear Friend,

New WDM Report: Zambia: Condemned to Debt
http://www.wdm.org.uk/campaign/colludo/zambia/zamexecsum.htm

For many people, the Jubilee campaign on debt marked a defining moment in
popular pressure translating into international action. They felt proud to
have participated in a global effort to deliver economic justice to the
poorest people in the world. Yet the Heavily Indebted Poor Countries (HIPC)
Initiative - launched in response to this campaigning - has delivered too
little debt relief, too slowly, to too few countries. Also, the debt relief
that is delivered to poor countries is done so on condition that these
countries implement yet more free market structural adjustment policy
reforms. In other words, the economic justice (in the form of debt relief)
that many campaigners fought so hard to achieve is being used to perpetrate
an economic injustice (forcing countries to privatise, liberalise and
deregulate).

In May 2003, in our 'Treacherous Conditions' report, WDM demonstrated how
policies such as trade liberalisation, privatisation and investment
deregulation are unsuccessful, undemocratic and unfair. In November 2003, we
detailed this failure, unfairness and democratic deficit in a report on IMF
and World Bank intervention in Senegal. We now present an equally scathing
critique of Bank and Fund policies in Zambia and how debt relief is being
used as a lever to push for 'more of the same'.

Written by two Zambian researchers, Jack Jones Zulu and Lishala Situmbeko,
'Zambia: Condemned to Debt' 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 examples
and case studies on the failure of privatisation in the mining sector, the
failure (and unfairness) of unilateral trade liberalisation in Zambia and
the undemocratic attempt by the IMF to use debt relief to force the Zambian
Government to privatise the country's national bank. 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 is part of WDM's ongoing '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. To receive free hard copies of the report, please email
tim@wdm.org.uk <mailto:tim@wdm.org.uk>.

Best Wishes,

Peter Hardstaff
Head of Policy

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

World Development Movement
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London
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United Kingdom

Tel: +44 (0)20 7274 7630
Fax: +44 (0)20 7274 8232
www.wdm.org.uk

WDM presents 60 Glorious or Notorious Years -  What future for the IMF and
World Bank at 60?   Saturday 10 July 2004, London  Speakers: George Monbiot,
Shalmali Guttal (FOCUS, India)  Mark Curtis.  Chair: David Loyn, Developing
World Correspondent, BBC. The event is free, to reserve a place visit
<http://www.wdm.org.uk/action/wrr04.htm>

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