[stop-imf] Groups: IMF, Don't be a Grinch

[Robert Weissman]

*50 Years is Enough Network * Jubilee USA Network * Africa Action
*
*
FOR IMMEDIATE RELEASE
DECEMBER 20, 2005
*
*CONTACT:
*Debi Kar, Jubilee USA, 202-783-0215 / Hope Chu, 50 Years is Enough
Network, 202-463-2265
*
Advocates Rally at the IMF, Call on Fund to Keep Promise
of Debt Cancellation for Impoverished Countries
/
IMF Executive Board Meets Wednesday to Decide Fate of 6 Countries
/
WASHINGTON -* On Tuesday, several dozen advocates for impoverished
country debt cancellation rallied outside of the International Monetary
Fund (IMF) to demand that the institution keep its promises to the
world=E2=80=99s poor. The action took place ahead of the IMF=E2=80=99s Wedn=
esday Board
meeting which will finalize details of a debt cancellation deal for 18
countries. *Six of these countries - fully one-third of those promised
debt cancellation - are now in danger of being denied cancellation by
the IMF.

*At the event today, advocates compared the IMF to the Grinch who stole
Christmas in a street theater, adaptation of Dr. Seuss=E2=80=99 How The Gri=
nch
Stole Christmas. Picketing in front of the IMF headquarters, activists
chanted, =E2=80=9CIMF: Don=E2=80=99t Be A Grinch! Keep Your Promises Today.=
=E2=80=9D

=E2=80=9CThis summer, world leaders promised full and immediate debt
cancellation to some of the world=E2=80=99s most impoverished nations and n=
ow
the IMF is back-tracking on that commitment. We gathered outside the IMF
today to demand that they keep their promises,=E2=80=9D said *Neil Watkins,
National Coordinator of Jubilee USA Network*, a network of 70
faith-based, solidarity, and development groups. =E2=80=9CDelays to debt
cancellation cost lives. When the IMF board meets tomorrow, we hope they
will do the right thing, and keep their promise to the world=E2=80=99s poor=
.=E2=80=9D

=E2=80=9CAll these countries have already run the IMF=E2=80=99s gauntlet of=
 devastating
economic conditions,=E2=80=9D said *Sameer Dossani, Executive Director of t=
he 50
Years Is Enough Network*, =E2=80=9CTheir completion of the Highly Indebted =
Poor
Countries Initiative (HIPC), a program which even the World Bank
acknowledges to be a failure, should be more than enough to qualify them
for desperately-needed debt cancellation under the G8 plan. The IMF has
made noises about requiring further conditions and economic tests =E2=80=93=
 a
clear betrayal of the G8=E2=80=99s promise of debt cancellation and yet ano=
ther
in a long string of broken promises to impoverished countries.=E2=80=9D

=E2=80=9CDespite the fact that these debts were largely illegitimate in the
first place, a result of irresponsible lending to despotic regimes and
for failed projects, these extremely impoverished nations have been
paying the IMF at the expense of desperately needed investment in
health, education, and clean water,=E2=80=9D said *Salih Booker, Executive
Director of Africa Action*. =E2=80=9CFurther delays to debt cancellation wi=
ll
cost lives in the six affected countries.=E2=80=9D

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