TWN Info Service on Finance and Development (Mar09/02)
17 March 2009
Third World Network

On 11 March, Third World Network was invited, at an NGO event organised by FES, to make a presentation (together with some other NGOs) on 11th March to the UN Commission of Experts (chaired by Prof. Joseph Stiglitz) which has been mandated by the UN General Assembly President to address reforms to the international monetary and financial system in the wake of the global financial crisis.

Sanya Reid-Smith of Third World Network made a presentation on the impacts of Free Trade Agreement provisions in developing countries, demonstrating how these provisions may undermine the recommendations to be proposed by the UN Commission.

Bhumika Muchhala of Third World Network made a presentation on the new IMF financial crisis loans to nine countries, and their fiscal and monetary conditionalities, demonstrating how the IMF's policy advice in some critical areas appears to be similar to their advice of the past and could worsen the crisis for the countries concerned.

The documents were distributed to the UN Commission members, including Professor Stiglitz.

For more information or inquiries, please contact Bhumika Muchhala at bhumika@thirdworldnetwork.net or +41 22 908 3550.

Best regards,

Sanya Reid-Smith and Bhumika Muchhala


Sanya Reid-Smith
Third World Network
Geneva office phone: +41 (22) 908 35 50
Geneva office fax: +41 (22) 908 35 51

Email: sanya@thirdworldnetwork.net

Bhumika Muchhala
Third World Network
Geneva office phone: +41 (22) 908 35 50
Geneva office fax: +41 (22) 908 35 51

Email: bhumika@thirdworldnetwork.net 

• Preliminary note on financial crisis and trade and investment treaties
• The IMF's Financial Crisis Loans: No change in conditionalities
• IMF Financial Crisis Loans Charts