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	<title>Inter Press ServiceFINANCE: Transparency Begins at Home, WB-IMF Told</title>
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		<title>FINANCE: Transparency Begins at Home, WB-IMF Told</title>
		<link>https://www.ipsnews.net/2006/09/finance-transparency-begins-at-home-wb-imf-told/</link>
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		<pubDate>Sun, 17 Sep 2006 11:14:00 +0000</pubDate>
		<dc:creator>Marwaan Macan-Markar</dc:creator>
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		<description><![CDATA[Marwaan Macan-Markar]]></description>
		
			<content:encoded><![CDATA[<p><font color="#999999"><p class="wp-caption-text">Marwaan Macan-Markar</p></font></p><p>By Marwaan Macan-Markar<br />BATAM, Indonesia, Sep 17 2006 (IPS) </p><p>Civil society organisations gathered on this island, ahead of the annual meeting of the World Bank (WB) and the International Monetary Fund (IMF) in neighbouring Singapore, have launched a &lsquo;global charter&#8217; demanding transparency from the finance institutions.<br />
<span id="more-21068"></span><br />
This initiative, which argues that the public&#8217;s right to information has greater weight than the WB-IMF&#8217;s willingness to be transparent, marks a new direction that non governmental organisations (NGOs) are taking from their usual mission &#8211; targeting governments that deny the right to freedom of opinion and information to their citizens.</p>
<p>&lsquo;&#8217;Taking on the Bank and other international financial institutions is our new rallying cry. We have expanded our mission,&#8221; Toby Mandel, law programme director at &lsquo;Article 19&#8242;, the international media rights watchdog, told IPS in an interview shortly after the launch on Sunday. &#8221;The charter aims to pry open the highly secretive practices of the WB-IMF. These public bodies must be as open as the governments they are calling upon to be transparent.&#8221;</p>
<p>Countries such as India, Mexico and South Africa have a better structure of openness and have national laws concerning the right to information that make it easier for citizens to secure documents than at the Bank, he added. &lsquo;&#8217;We should get information not when they (WB-IMF) want to release it, but when we, the people, want it.&#8221;</p>
<p>&lsquo;&#8217;The right to access information held by public bodies is a fundamental human right,&#8221; states the &lsquo;Transparency Charter for International Financial Institutions: Claiming our Right to Know&#8217; in its preamble. &lsquo;&#8217;A two-way flow of information provides a foundation for healthy policy development, decision-making and project delivery.&#8221;</p>
<p>The charter has set out nine principles to compel the financial powerhouses to fall in line with the United Nations Universal Declaration of Human Rights, which guarantees the right to &lsquo;&#8217;seek, receive and impart information and ideas&#8221;. Among them are the public&#8217;s right to access information held by the IFIs, &lsquo;&#8217;regardless of who produced the document and whether the information relates to a public or private actor&#8221;.<br />
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The second principle stresses that IFIs should automatically disclose &lsquo;&#8217;a wide range of information about their structures, finances, policies and procedures&#8221;. The third principle calls on the IFIs to be completely transparent and offer &#8221;access to decision-making&#8221;, which even means public access to draft documents.</p>
<p>And to strengthen the public stake in this issue, the sixth principle calls for the creation of an &lsquo;&#8217;independent and authoritative body&#8221; to review requests for information that the IFIs deny. &lsquo;&#8217;Anyone who believes that an international financial institution has failed to respect its access to information policy, including through a refusal to provide information in response to a request, has the right to have the matter reviewed.&#8221;</p>
<p>The charter is the work of the Global Transparency Initiative, a coalition of eight freedom-of-information (FoI) groups, including Article 19, the Washington D.C-based Bank Information Centre (BIC), the Manila-based Access to Information Network, the London-based Brettons Woods Project and the Cape Town-based Institute for Democracy in South Africa. It comes two years after the FoI groups rallied under this new banner to bring the financial institutions under their critical gaze.</p>
<p>The launch of this charter also marks a vote of no confidence in the Bank&#8217;s existing &lsquo;&#8217;disclosure policy&#8221;, which was initiated in 1994 to make some of its records accessible to people. &lsquo;&#8217;Compared to 15 years ago, the Bank is disclosing more information now. But there is no right for the people to demand the Bank to disclose the information they need,&#8221; said Jennifer Kalafut, of BIC, at the launch of the charter.</p>
<p>&lsquo;&#8217;Do they disclose reports and performance audits? No,&#8221; she revealed. &lsquo;&#8217;Are the board of directors open about the decisions that are made? No.&#8221;</p>
<p>&lsquo;&#8217;The World Bank should change to accept transparency as a right,&#8221; she added. &lsquo;&#8217;The problem is that they are stuck with a paradigm that they are the ones to choose what information must be released.&#8221;</p>
<p>Activists and researchers meeting here for the three-day International People&#8217;s Forum (IPF) are throwing their weight behind the charter. Those that IPS spoke with welcomed this initiative as part of an on-going global drive to force WB-IMF to be more open and transparent at a time when these institutions are demanding that national government address corruption and ensure transparent functioning.</p>
<p>&lsquo;&#8217;This (charter) will help us audit any World Bank and ADB (Asian Development Bank) projects in Bangladesh,&#8221; said Reza Chowdhury, secretary of Campaign for Good Governance, a network of 700 grass roots groups, based in Dhaka. &lsquo;&#8217;This also exposes the Bank, which is currently pushing a new programme to fight corruption. If it does not recognise the public&#8217;s right to information of its records, it will be difficult for the Bank to lecture to governments.&#8221;</p>
<p>According to Stephen Mandel, senior researcher at the New Economics Foundation, a London-based think tank, &lsquo;&#8217;the Bank refuses to reveal how decisions are made and the voting records of the board of directors, which is useful in holding the executive directors in each country accountable&#8221;.</p>
<div id='related_articles'>
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<li><a href="http://ipsnews.net/2006/09/finance-imf-wb-exposed-by-ban-on-ngos-at-spore-meet" >IMF-WB Exposed by Ban on NGOs at S&apos;pore Meet </a></li>
<li><a href="http://ipsnews.net/2006/09/finance-mass-boycott-by-ngos-may-yet-shame-wb-imf" >Mass Boycott by NGOs May Yet Shame WB-IMF</a></li>
</ul></div>		<p>Excerpt: </p>Marwaan Macan-Markar]]></content:encoded>
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