ONE Reacts to Recommendations from IMF Committee

ONE Reacts to Recommendations from IMF Committee
No breakthrough yet on gold but door still open for better deal for poorest countries. Urgent action now needed from IMF

FOR IMMEDIATE RELEASE:
CONTACT: Chandler Smith
chandler.smith@one.org
PHONE: (202) 380-7459

Thursday, April 23, 2009

WASHINGTON, D.C - In response to the communiqué released by the IMF Committee today, Oliver Buston, European Director of ONE, said:

"Finance ministers have not yet delivered a breakthrough on the use of profits from IMF gold sales for the poorest countries.  They did reaffirm the G20 decision to double lending for low-income countries and instructed the fund to explore ways of making those loans more concessional. The door has been left open for a better deal for the poorest countries from the IMF, but urgent action is needed in the coming days."

"A global economic recovery cannot exclude 1 billion of the poorest people in the world. The IMF should immediately set to work developing an ambitious proposal which delivers increased resources without risking a new debt crisis.  Funding must not come with excessive economic conditions attached.  The only conditions should be transparency and accountability to citizens on the ground."

Notes for Editors

For interviews, briefings or additional materials, please contact Chandler Smith on chandler.smith@one.org or (202) 380-7459.

ONE is a campaign and advocacy organization backed by more than 2 million people around the world who are committed to the fight against extreme poverty and preventable disease, particularly in Africa.

At ONE, we hold world leaders accountable for the promises made to the poorest people, and we press these leaders to support better policies for more effective aid and trade reform. We also support greater democracy, accountability and transparency in developing countries, essential if these resources are to be effectively deployed.

Co-founded by Bono, Bobby Shriver and other campaigners, and supported by Bob Geldof and other high profile activists, ONE works with activists from the left, right and center to mobilize public opinion in support of effective, proven initiatives that are delivering results on the ground.

www.one.org