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Aid organisations criticize IMF and World Bank
Tue. October 14, 2008 04:02 am.- By Bonny Apunyu. -
(SomaliNet) Aid organisations have expressed serious dissatisfaction with the meetings of the International Monetary Fund and the World Bank.
The meetings were overshadowed by the worldwide financial crisis, and hence there was little discussion of aid to developing countries. Aid organisation Oxfam said the IMF and the World Bank have put forward disgracefully few new solutions for the financial problems of the poorest countries.
Nevertheless, World Bank president Robert Zoellick said that measures to combat the financial crisis would not be taken at the expense of development efforts. In a unanimous statement, the ministers concerned said that all previous aid commitments would be met.
Dutch Development Cooperation Minister Bert Koenders said that the financial crisis has brought an end to the era in which Western countries unilaterally imposed a financial system on the rest of the world.-RNW.
News Category: World
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