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Local group battles the World Bank and the IMF in the Gazette

vieuxcmaq, Jueves, Septiembre 6, 2001 - 11:00
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Paul Reeve (paulr@cim.mcgill.ca)

The Social Justice Committee (SJC) of Montreal, a local group concerned with issues of economic justice and human rights, recently took its campaign against Third World Debt to the pages of the Montreal Gazette. In an article entitled "World Bank should stop acting like a loan shark", the SJC's Derek MacCuish takes the World Bank and the IMF to task over its failure to cancel the largely unpayable debts of poor countries.

In his response, "Poor countries don't want more debt relief", an IMF official claims that poor countries support the Poverty Reduction and Growth Facility, source of the infamous "Structural Adjustment Programs" that have decimated health and education spending and led to a massive wave of privatization in indebted countries - and that they prefer this to giving "free rides" to countries with overlarge debts.

A charge that is countered by MacCuish, who writes in his reply that "Calls for debt relief are loud" - referring not only to the large network of organizations around the world dedicated to the elimination of Third World Debt, but also to the leaders of African countries that the IMF would suggest "don't want" debt relief.

The Social Justice Committee of Montreal has a good deal of information and analysis on international economic justice issues on their web site, as well as information on human rights in Central and South America.
<a href="www.s-j-c.net">www.s-j-c.ne

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