FMI

The International Monetary Fund (IMF) board will meet this week [6 April] to discuss how to use the extra $2.8 billion windfall it made from selling 403.3 tons of gold late last year. The windfall profits should be used to cancel the debts of poor countries facing crises outside their control.

About Financial Transaction Tax (FTT) and innovative financing for development
 

World leaders have an historic opportunity to reform the global economy to ensure that the one in six people who live in extreme poverty benefit from economic recovery, international agency Oxfam said today ahead of the G20 summit in Seoul.

Poor countries are being forced to cut back on their economic crisis-response spending too soon. Education and social protection budgets are particularly badly affected. Oxfam is calling on the IMF to take steps to reverse this trend.

G20 finance ministers meeting in London this weekend should provide a $280 billion bailout for millions of poor people struggling to survive the economic crisis. We provide three easy ways the G20 could deliver this up.

In 2005 the International Monetary Fund (IMF) introduced the Policy Support Instrument (PSI).