IMF-World Bank Meeting Protested in D.C.
Finance ministers from around the globe are meeting this weekend with one main issue on their minds: how best to spend one trillion dollars to help the world’s economy (2:31):
Experts have criticised an ongoing meeting of the World Bank and the International Monetary Fund (IMF) as “a wasted opportunity for poor countries”.
On Sunday – the second day of the two-day meet in Washington DC aimed at helping countries recover from the world economic crisis – Oxfam International, an anti-poverty non-governmental organisation, said that “more should have been done” for developing nations.
“The poorest countries are still waiting for the bailout they’ve been promised to survive this crisis,” Marita Hutjes, a senior adviser at Oxfam International, said.
“They moved heaven and earth for banks; the question is when will they put the money on the table for poor countries?” Hutjes said.
Delegates at the IMF-World Bank “spring annual meeting” that opened on Saturday endorsed stimulus measures to combat the economic crisis and clean up banks’ bad assets – effectively unvalued debt. >>>