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    Oxfam spokesperson Elizabeth Stuart criticized the IMF for not recommending that funds from a proposed global bank tax go towards helping poor countries affected by the economic crisis. She said it would be "shameful" if Canada blocked the bank tax, which could generate hundreds of billions to aid devastated nations. Stuart also argued that reforms to give poor countries more voice and representation at the IMF were not happening quickly enough.

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    Oxfam spokesperson Elizabeth Stuart criticized the IMF for not recommending that funds from a proposed global bank tax go towards helping poor countries affected by the economic crisis. She said it would be "shameful" if Canada blocked the bank tax, which could generate hundreds of billions to aid devastated nations. Stuart also argued that reforms to give poor countries more voice and representation at the IMF were not happening quickly enough.

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    10 views1 page

    Imfc) : 24 April

    Uploaded by

    api-26355474
    Oxfam spokesperson Elizabeth Stuart criticized the IMF for not recommending that funds from a proposed global bank tax go towards helping poor countries affected by the economic crisis. She said it would be "shameful" if Canada blocked the bank tax, which could generate hundreds of billions to aid devastated nations. Stuart also argued that reforms to give poor countries more voice and representation at the IMF were not happening quickly enough.

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    of 1

    24 April

    Oxfam on the International Monetary and Financial Committee Communiqué


    (IMFC)

    Oxfam spokesperson Elizabeth Stuart said:

    BANK TAX
    “Dominique Strauss Kahn should have used this opportunity to recommend that part of the
    money raised by the bank levy should go to poor countries who have been hit by a crisis not
    of their own making.”

    “Dominique Strauss Kahn said some countries believe they don’t need a global bank tax
    because their financial sectors haven’t been hit. It would be shameful if Canada blocks a tax
    that could provide hundreds of billions of dollars for countries that have been devastated by
    the economic meltdown.”

    “If the IMF can be on the side of the angels, why can’t Canada? This does not bode well for
    its leadership of the G20 meeting in June.”

    QUOTA REFORM
    “Reform of the IMF’s governance is happening far too slowly. If the Fund is really an
    institution for the 21st century, where are the changes that will finally give poor countries a
    voice in policies that affect their futures?”

    Contact: Caroline Hooper-Box + 1 202 321 2967


    caroline.hooper-box@oxfaminternational.org

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