The International Monetary Fund and the World Bank were conceived by 44 nations at the Bretton Woods Conference in 1944 with the goal of creating a stable framework for post-war global economy. The IMF was originally envisioned to promote steady growth and full employment by offering unconditional loans to economies in crisis and establishing mechanisms to stabilize exchange rates and facilitate currency exchange. Much of that vision, however, was never born out. Instead, pressured by US representatives, the IMF took to offering loans based on strict conditions, later to be known as structural adjustment or austerity measures, dictated largely by the most powerful member nations. Critics charge that these policies have decimated social safety nets and worsened lax labor and environmental standards in developing countries. The World Bank (The International Bank for Reconstruction and Development) was created to fund the rebuilding of infrastructure in nations ravaged by World War Two. Its vision too, however, soon changed. In the mid 1950's, the Bank turned its attention away from Europe to the Third World, and began funding massive industrial development projects in Latin American, Asia, and Africa. Many scholars and activists contend that the Bank's aggressive dealings with developing nations, which were often ruled by dictatorial regimes, exacerbated the developing world's growing debt crisis and devastated local ecologies and indigenous communities. Both IMF and World Bank policies remain a source of heated debate.


Official Agencies
The World Bank
International Monitary Fund

 

World Bank Group
International Monetary Fund

Monday, September 27, 1999

 
9:00-10:30 The WTO Agenda from a Development Perspective

Richard Eglin is Director of the Trade and Finance Division of the World Trade Organization. He previously served as Director of the Development Division and of the Trade and Environment Division at the WTO. Prior to joining the WTO, he worked for the IMF in Washington and in Geneva. He holds a BA and a Ph.D. from Cambridge University.

Martin Wolf is Associate Editor and Economics Commentator at the Financial Times, London. Prior to joining the Financial Times, he was Director of Studies at the Trade Policy Research Centre in London for six years. He holds two first class honours degrees and an MPhil in Economics from Oxford University, and began his professional career at the World Bank in 1971.


 
9:00-10:30 Toward Greater Transparency in Monetary and Financial Systems: Why Does It Matter?

John Hicklin is Assistant Director in the Policy Development and Review Department, International Monetary Fund. He has also worked in a number of other Fund departments including the Middle East and Asia. Prior to the Fund, Mr. Hicklin was at H.M. Treasury, UK.

James H. Lau, Jr. is Executive Director of the External Department of the Hong Kong Monetary Authority (HKMA). Mr. Lau was an administrative officer in the Hong Kong government and later was appointed Hong Kong's Deputy Permanent Representative to the GATT in Geneva. He joined the Office of the HKMA Exchange Fund as Assistant Director for Monetary Management in 1991 and remained in that post until he was appointed Head of External Affairs.

Gus O'Donnell is Director of the British Treasury responsible for the macroeconomic policy framework and is Head of the Government Economic Service. From1997 to 1998, he served as the UK Executive Director on the Executive Boards of the IMF and World Bank. His previous positions include spokesman for UK Chancellors and for the previous Prime Minister. He is closely involved in EMU policy, and was the UK member of the EU Monetary Committee from 1994-97.

Jeffrey R. Shafer joined Salomon Smith Barney in 1997 as Managing Director and as Vice Chairman of Salomon Smith Barney International. In February 1999 he took on the role of Head of Privatization of the firm. From 1993 to 1997, he was Assistant Secretary and subsequently Under Secretary for International Affairs of the US Treasury. From 1984 until 1993, he held a number of senior positions at the Organization for Economic Cooperation and Development (OECD). Prior to the OECD, he served with the Federal Reserve Bank of New York, the Federal Reserve Board in Washington, and the Council of Economic Advisors.

William R. White is Economic Adviser and Head of the Monetary and Economic Department at the Bank for International Settlements. He was previously Deputy Governor of the Bank of Canada, with responsibilities for policy analysis of international economic and financial developments, and operational oversight for the Bank's activities in foreign exchange markets.


 
9:00-10:30 The Changing Development Landscape: Globalization, Localization and Urbanization *

Barry Eichengreen is the George C. Pardee and Helen N. Pardee Professor of Economics and Professor of Political Science at the University of California, Berkeley, where he has taught since 1987. He is also Research Associate of the National Bureau of Economic Research in Cambridge, Massachusetts, and Research Fellow of the Centre for Economic Policy Research in London. From 1997 to 1998 he was Senior Policy Advisor at the International Monetary Fund.

Vernon Henderson is the Eastman Professor of Political Economy and Professor of Economics and Urban Studies at Brown University. He is the author of Economic Theory and the Cities and of Urban Development: Theory, Fact and Illusion, as well as numerous journal articles on urbanization and industrial location. He has analyzed the patterns of urban development and industrial agglomeration in the USA, Brazil, India, China, Korea, Spain, and Indonesia. He has worked as an advisor to the World Bank, the European Union and the Asian Development Bank.

Moeen Qureshi is Chairman of Emerging Markets Partnership (EMP), an asset management company he co-founded in 1992. Prior to EMP Mr. Qureshi served as Senior Vice President and Chief of Operations of the World Bank, and from 1974 to 1979 as Chief Operating Officer of the International Finance Corporation (IFC), the private sector arm of the World Bank. Mr. Qureshi has also held senior positions with the International Monetary Fund. Mr. Qureshi was Prime Minister of Pakistan for an interim period in 1993.

Tasso Ribeiro Jereissati is Governor of Ceará, Brazil and he is the second person ever to govern Ceará for three times in 110 years of republican history. His terms have been noted for progressive fiscal adjustment policies and strategy of state development. He has served as President of Ceará Industrial Center and President of the Brazilian Social Democratic Party (PDSB).


 
11:00-12:30 East Asia 2010: New Values, New Priorities?

Roberto F. de Ocampo is President, Asian Institute of Management and Senior Adviser of Sycip, Gorres, Velayo & Co., an Arthur Andersen member firm. He was former Secretary of Finance of the Republic of the Philippines. He has held the post of Governor in the Board of Governors at the World Bank and Asian Development Bank respectively and of Alternate Governor at the International Monetary Fund. Mr. de Ocampo was the youngest person to be appointed Chairman and Chief Executive Officer and Vice Chairman and Chief Operating Officer of the Development Bank of the Philippines.

Harry Harding is Dean of the Elliott School of International Affairs and Political Science at The George Washington University. He is a specialist on Asian affairs with a particular interest in China and has written four books, edited volumes, and published articles in a wide range of journals. He has also taught at Stanford, Swarthmore, UC Berkley, and Georgetown, been a consultant to many multinational corporations.

Jin Ku Kang is Chairman and Chief Executive Officer of Samsung Electro-Mechanics Co., Ltd. Prior to this position, he served as Chairman and Chief Executive Officer of Samsung Electronics Co., Ltd. Mr. Kang also chairs the Korea Electronics Industry Association and US-Korea Business Council, and two multinational economic committees. He is Vice Chairman of the Korea Foreign Trade Association.

Jin Liqun is Vice Minister of Finance, Ministry of Finance, China. He supervises government debt management and the budget appropriations of foreign exchange expenditure of government agencies. He has overall responsibility for international financial affairs and external finance including the cooperative activities with the World Bank, the Asian Development Bank, other foreign aid agencies and treasuries of other countries. He was formerly Director General of the World Bank Department of Ministry of Finance. Mr. Jin served as Alternate Executive Director of the World Bank for China from 1989 through 1992.

Gloria Macapagal-Arroyo is Vice President of the Republic of the Philippines and Secretary of Social Welfare and Development. During the administration of President Corazon Aquino, she was Undersecretary of the Department of Trade and Industry. As a Senator, she authored laws on economic and social reform, earning the honor of being named Outstanding Senator and one of Asia's Most Powerful Women. She has a Doctorate degree in Economics.


 
11:00-12:30 Globalization and Culture: Must They Clash? *

Vincenzo Paglia is General Ecclesiastical Assistant and President of the Association "People and Religions" in the Community of Sant'Egidio and parish priest of the Basilica of Santa Maria in Trastevere. Monsignor Paglia has been engaged in the conflict resolution in Kosovo and managed to reach the only agreement signed by both Milosevic and Rugova on the establishment of a regular school system in Kosovo. He obtained the release of Rugova and his transfer to Western Europe and, at the moment, he is working for the promotion of peace and coexistence in that area. He works as a free-lance journalist for the radio and television networks and as a leader-writer for various magazines, newspapers.

Sergio Ramirez was a member of "Los Doce," a group of 12 prominent intellectuals and religious figures who publicly denounced the Somoza dictatorship in the late 1970s. He was a member of the Sandinista government that overthrew Somoza in 1979, and he was elected Vice President of Nicaragua in 1984, a post he held until the Sandinistas' electoral defeat in 1990. His recent books include Castigo Divino, Margarita esta linda la mar, and Hatful of Tigers: Reflections on Art, Culture and Politics.

Shashi Tharoor is Director of Communications and Special Projects in the Office of the Secretary General of the United Nations. He has worked at the UN for more than twenty years and prior assignments include Special Assistant to the Under Secretary General for Peace-keeping Operations, and Head of the United Nations High Commission for Refugees office in Singapore. Mr. Tharoor is the author of several works of both fiction and non-fiction.


 
11:00-12:30 Profits and Global Health: Public-Private Alliances for Vaccines

Seth Berkley is President and Founder of the International AIDS Vaccine Initiative. A medical doctor specializing in infectious disease epidemiology and international health, Dr. Berkley is the former Associate Director of the Health Services Division at the Rockefeller Foundation. He has worked for the Center for Infectious Diseases of the US Centers for Disease Control, the Massachusetts Department of Public Health, and the Carter Center, where he was assigned as the Ministry of Health epidemiologist in Uganda.

William H. Foege is the Presidential Distinguished Fellow at the Rollins School of Public Health. He trained as an epidemiologist and worked in the successful campaign to eradicate smallpox in the 1970s. Dr. Foege is a founding member, and currently the Executive Director, of the Task Force for Child Survival, a working group for the World Health Organization (WHO), UNICEF, the World Bank, the United Nations Development Program (UNDP), and the Rockefeller Foundation. Dr. Foege is the recipient of many awards, including the WHO Health for All Medal, the Healthtrac Prize, and the Calderone Prize.

Jacques-François Martin is Chief Executive Officer of Parteurop, S.A., in Lyon, France, which represents the vaccine industry to international institutions, including WHO and UNICEF. He is a Member of the Board of the International AIDS Vaccines Initiative (IAVI) and the Bill and Melinda Gates Children Vaccine Program. He was also the Chair of the Biologicals Committee of the International Federation of Pharmaceutical Manufacturers Associations (IFPMA) and the former Chief Executive Office of Institut Mérieux.


 
1:00-2:00 Keynote: Culture, Democracy and Development: Striking a Synergy

Wole Soyinka is a Nobel prize-winning playwright, poet, and novelist. Mr. Soyinka is a Professor at Emory University, USA. He has published over 40 works in a career that spans five decades including most recently Mandela's Earth and Other Poems (1990), Art, Dialogue and Outrage (1988), Isara: A voyage Around Esssay (1989), and The Open Sore of a Continent: A Personal Narrative of the Nigerian Crisis (1996). He has a Ph.D. from the University of Leeds in the United Kingdom.


 
3:30-4:45 The Lessons of Development: Equity and Sustainability *

Nancy Birdsall is Senior Associate, Carnegie Endowment for International Peace, where she directs the economics programs. She was the Executive Vice President of the Inter-American Development from 1993 until 1998. She is the author of numerous publications on economic development issues. Her most recent work is on the causes and effects of inequality in a globalizing world.

Francis Fukuyama is Omer L. and Nancy Hirst Professor of Public Policy at George Mason University and Director of the Institute of Public Policy's International Commerce and Policy Program. Dr. Fukuyama has written widely on issues relating to questions concerning democratization and international political economy.

Nicholas Stern, FBA is Chief Economist at EBRD (where he is also Special Counsellor to the President). He was appointed to a Chair (subsequently the Sir John Hicks Chair in Economics) at the London School of Economics in 1986.. He has taught and researched at many places including Oxford and Warwick universities, the Massachusetts Institute of Technology, the Ecole Polytechnique in Paris, the Indian Statistical Institute in Bangalore and Delhi, and the People's University of China in Beijing.

Vinod Thomas is Director of the World Bank Institute (WBI), the training arm of the World Bank. Mr. Thomas is responsible for the Bank's principal vehicle for delivering timely knowledge in member countries through seminars, conferences, and a variety of print, broadcast, and multi-media products. Prior to heading the WBI, Mr. Thomas held positions as Chief Economist for the World Bank in the East Asia and Pacific region, Chief Economist for Asia, Staff Director for the 1991 World Development Report.


 
3:30-4:45 Strengthening Corporate Governance

Henryka Bochniarz is currently the President of Nicom Consulting in Poland. She is also the President of the Polish Business Roundtable and is on the Board of Directors of several conpanies and organizations. Bochniarz has served as the Minister of Industry and Trade in the Government of Prime Minister J.K. Bielecki. During her 20-year professional career, Bochniarz has focused on the economic transformation in Poland and other emerging markets, agriculture and international trade. She is a Certified Management Consultant and PhD in Economics.

Jonathan Charkham is an adviser to PIRC Ltd. in the United Kingdom, Member of the Committee of the Joint Disciplinary Scheme of the Accounting Profession, and non-executive Director of Great Universal Stores plc. He was formerly Adviser to the Governor of the Bank of England. He has served on many committees on corporate governance abroad and in the UK, including the National Health Service and the Cadbury Committee.

Judith Hanratty is Company Secretary of BP Amoco plc and a Director of The Tanker Insurance Company Limited, and of BP Pension Trustees Limited. She is a Nominated Member of The Council of Lloyd's, a Member of the Competition Commission, the Listing Authorities Committee of The London Stock Exchange and of the Takeover Panel. She has been a Non-executive Director of London Electricity plc., a UK Government Nominee on the Insurance Brokers Registration Council, a Member of the Weinberg Committee which reported on the future of private share ownership and the Engineering Council Committee on major risk issues. She has acted as an arbitrator in commercial and insurance market disputes.

Joanna R. Shelton is the Deputy Secretary General at the Organization for Economic Co-operation and Development (OECD). Her portfolio includes the OECD's work in investment, fiscal affairs, trade policy, relations with the business and labor communities, regulatory reform, electronic commerce, and corporate governance. Prior to joining the OECD, Ms. Shelton served in the US Department of State as Deputy Assistant Secretary for Trade Policy and Programs.


 
3:30-4:45 Creating Livable Cities for the Next Century

Gabor Demszky is Mayor of Budapest, Hungary. Mr. Demszky is committed to restoring the Hungarian capital to its position as a political, financial and cultural center for both the nation and the region. Prior to being the first democratically elected mayor, Mr. Demszky represented a Budapest constituency in the first democratically elected national assembly, having long been active in the political underground as an activist and editor of samisdat papers. Mr. Demszky holds degrees from the University of Budapest in Law and Sociology.

Anthony Pellegrini is Director of the Transport Water and Urban Development Department in the World Bank that is responsible for the sector policy, cross regional support and training in the fields of urban development, water supply and transportation. Prior to becoming Director, Mr. Pellegrini worked in the World Bank in the regions of Europe and Central Asia, Middle East and North Africa where he was responsible for infrastructure and urban development initiatives. Before joining the bank in 1972, Mr. Pellegrini worked for several consulting firms and holds a doctorate degree from Stanford University.

Jaime Ravinet has been Mayor of Santiago since 1990. He has played an active role in advocating the interests of municipal authorities throughout Latin America and internationally in his role as President of the Council of Presidents of the World Associations of Cities and Local Authorities Coordinating Structure. In 1997 he was honored with the UNESCO Mayors for Peace Prize. Mr. Ravinet is a Member of the National Council of Christian Democrats, for which he served as Chief of Campaign for Presidential Candidate Patricio Alwyn.

Pierre Richard is Co-Chairman of DEXIA, France, a banking group specializing in project and public finance and Financial services to local government and the public sector. Before joining DEXIA, he held positions as Adviser to the President of the French Republic for Local Authorities, Town Planning, Housing, Infrastructure and the Environment before becoming Head of the Local Authorities Department at the Ministry of the Interior. Mr. Richard is also a Director of the European Investment Bank and Compagnie Nationale Air France.


 
5:15-6:15 Keynote: Lessons from the Global Crises

Alan Greenspan is Chairman of the Board of Governors of the Federal Reserve System, serving his third term in this post. Mr. Greenspan also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Mr. Greenspan has had a distinguished career in the US government, serving as Chairman of the President's Council of Economic Advisers under President Ford; as Chairman of the National Commission on Social Security Reform; and as a member of President Reagan's Economic Policy Advisory Board. In recent years, Mr. Greenspan has served as Corporate Director for a number of leading US companies.

James D. Wolfensohn is President of the World Bank Group. Before joining the World Bank he was an international investment banker and a key supporter of the performing arts. He has held the positions of President and Chief Executive Officer of James D. Wolfensohn Inc., Executive Deputy Chairman and Managing Director of Schroders Ltd., Chairman of the Board of Trustees of the John F. Kennedy Center for the Performing Arts and of New York's Carnegie Hall.


Non-Profit Organizations

Alternative Information and Development Centre
Amazon Alliance
Bank Information Center
Bionet: Biodiversity Action Network
Bread for the World Institute
Center for Economic and Policy Research (US)
Center for Economic and Social Rights
Center for Economic Justice / World Bank Boycott Campaign
Center for International Environmental Law
Center of Concern
Conservation International
Corporate Watch
The Development Group for Alternative Policies- Development GAP

EURODAD - European Network on Debt and Development
Environmental Defense Fund
Environmental Media Services
Essential Action/Multinationals Resource Center
Export Credit Agency Watch
Fifty Years is Enough
Focus on the Global South
Global Exchange
Globalization Challenge Initiative
Halifax Initiative
International Export Credit Agency Reform Campaign
International Financial Institution Advisory Commission
International Rivers Network
IUCN, The World Conservation Union
Jubilee 2000 Coalition
Milennium Institute
Oxfam America/International
Pacific Environment and Resources Center
The Policy Kiosk
Probe International (Canada)
Structural Adjustment Participatory Review International Network
Social Justice Committee, Canada
Sustainable Energy and Economy Network
Third World Network (Malaysia)
World Resources Institute
Institute for Food and Development Policy (Food First)
Association for the Taxation of financial Transactions for the Aid of Citizens
Global Issues Website
Institute for Agriculture and Trade Policy
Just Act (formerly ODN)
Women's Environment and Development Organisation (WEDO)
The Global Policy Network
The Prague Policy Briefings.
50 Years is Enough
Religious Working Group on the World Bank and IMF
Whirled Bank

 

Coalitions represented through the CWS United Nations Office:

Coalitions represented through the CWS Washington D.C. Office:

 


Recommended Web Sites:

AFL-CIO's Global Economy Page
Information and action on how to make the global economy work for working families.

WTO Watch Document Center
An exhaustive clearinghouse of papers on trade policy and structural adjustment.

Global Exchange's IMF/World Bank Page:
Background papers and opportunities for activism on the IMF and World Bank