Emad Mekay

FINANCE: Southern Nations Demand More Power in IMF, World Bank

As several thousand people protested outside the World Bank and the International Monetary Fund (IMF) here Saturday, a coalition of developing countries also complained loudly about the democracy deficit at the two institutions.

DEVELOPMENT: IMF, Bank Wrongly Take Credit for Poverty Drop

By Emad Mekay

Global poverty has declined over the past 20 years but the successes are not in countries that have closely followed the advice of the World Bank and its sister institution the International Monetary Fund (IMF), a new study shows.

DEVELOPMENT: IMF, World Bank Butt Heads With Critics

By Emad Mekay

Leaders of the World Bank and the International Monetary Fund (IMF) Thursday disputed charges from critics and activists that the lenders have aggravated poverty in the developing world and devalued the rights of millions of people affected by their programmes.

ECONOMY: IMF Sees Growth Slowing in Developing Nations

By Emad Mekay

The world economy will rebound in 2004 and 2005, buoyed by an increase in global trade and a surging U.S. economy, but growth in developing nations will easy slightly, the International Monetary Fund (IMF) said Wednesday.

DEVELOPMENT: Activists Will Mark ‘Unhappy Birthday’ of Bank, IMF

By Emad Mekay

Angry at the state of global affairs, thousands of protesters are trickling into Washington to demonstrate against the World Bank and IMF, making time to party for women's rights, dance for the environment and puff on water pipes in the name of Middle East peace.

FINANCE: Mixed Economic Results Bad News for Development Goals

By Emad Mekay

Private capital is returning to the developing world but mainly to a few middle-income nations, the World Bank said in a report released Monday.

ECONOMY: IMF to the Rescue of Global Trade

By Emad Mekay

The International Monetary Fund is trying to coax developing countries, wary of western-dictated "free trade", to shelve protection of their own industries and embrace global trade liberalisation.

ECONOMY: IMF to the Rescue of Global Trade

By Emad Mekay

The International Monetary Fund is trying to coax developing countries, wary of western-dictated "free trade", to shelve protection of their own industries and embrace global trade liberalisation.

IRAQ-U.S.: Fallujah Puts Bush in Crisis Mode

By Emad Mekay

How do you know when the president of the United States is in crisis mode? When he cuts short his Easter holiday at his Texas ranch and returns to Washington to hold a rare press conference that he asks U.S. television networks to air on prime time.

ECONOMY: Shareholders Drive Probe on Caterpillar’s Israel Sales

By Emad Mekay

Activists are calling on fellow shareholders of U.S. heavy-equipment maker Caterpillar to press officials to probe the sale of company machinery to the Israeli Army, saying it violates an internal code of conduct and a U.S. ban on sales of products that target civilians.

FINANCE-NIGER: Groups Say Partial Debt Forgiveness Inadequate

By Emad Mekay

International creditors of the African nation of Niger have agreed to cancel 1.2 billon dollars of its debt over time under a controversial debt relief scheme, rewarding the country for its pro-free market economic restructuring plan.

FINANCE: Groups Cheer U.S. Congress’ Scrutiny of Global Lenders

By Emad Mekay

Development and advocacy groups, long concerned about accountability at international development and lending agencies like the World Bank, are cheering the U.S. Congress for adopting measures that provide more oversight of those bodies.

FINANCE: Lenders Urge World Bank to Reject Oil, Mining Pullout

By Emad Mekay

International investment banks are lobbying the World Bank to rebuff the recommendations of an independent study that urged the global lender to bail out of gas, oil and mining projects.

TRADE: U.S. Complains that Many Partners Erecting Barriers

By Emad Mekay

The Bush administration is warning it might act against trading partners that continue to impose barriers on U.S. goods and services, but the Democratic opposition calls the threat a bluff.

FINANCE: Critics Urge IMF to Open Up Selection Process for Top Job

By Emad Mekay

With European economic and finance ministers set to meet Friday to pick a candidate for the top job at the International Monetary Fund (IMF), one of the world's most influential economic bodies, the selection process continues to come under fire for being too exclusive.

LABOUR: IMF Accused of Union-Busting

By Emad Mekay

Two security guards at the International Monetary Fund (IMF) were recently suspended indefinitely by contracting firm Wackenhut for attempting to organise a labour union at the institution, a move the company says it made because a union would violate its contract with the lender.

LABOUR: IMF Accused of Union-Busting

By Emad Mekay

Two security guards at the International Monetary Fund (IMF) were recently suspended indefinitely by contracting firm Wackenhut for attempting to organise a labour union at the institution, a move the company says it made because a union would violate its contract with the lender.