The Golden Touch: Act now to ensure the IMF takes action

Manena Walet Issafeytane has worked tirelessly to help the community to get more children into school. Last year, for the first time ever, all thirteen boys and thirteen girls in sixth grade class passed their final exam. Credit: Ami Vitale/Oxfam
Send the IMF a message telling them to act now and to make their money worth its weight in gold
 

At the Spring Meetings in April, ministers from around the world committed money from the International Monetary Fund (IMF) to help the world’s poorest. The people who are paying for the economic crisis with their jobs and at times even their lives. It is estimated that 400,000 more infants could die in 2009 as a result of this crisis.

Some of the money committed will come from the IMF selling a fraction of their very own 3,000 ton goldmine. Some of  the money will come from other Fund sources. But rich countries are now bickering on how this treasure chest can be used for the poorest. The IMF needs to make a decision fast on the gold sales package so that the poorest people don’t wait.

Oxfam International is calling on Dominique Strauss-Kahn, the Managing Director of the IMF and the governments who are members of the IMF to give these funds the golden touch. They must ensure that at least US$ 5 billion of the gold sales goes to the poorest countries. This money must be given without harmful economic strings attached and some of it must be spent on debt relief.

US$ 5 billion can change lives – for example, this amount could pay for vitally needed health services for almost 2 million mothers and their babies.

Your campaigning works. In 2005, Oxfam successfully campaigned for the IMF to give debt relief to those developing countries with the highest debts. Now we have a chance to see similar success for more poor countries.

Your voice is needed urgently. During the Spring Meetings your pressure helped open up space for negotiations. In June, the US Congress agreed the IMF should make at least $4 billion available to generate money for loans to low-income countries (this is $2.5 billion more than originally agreed by the G20). This is definitely a step in the right direction. This summer the IMF will finalize what they will give to poor countries to help them survive the economic crisis – you can take action and help ensure they make the right decisions.

Add your name to the petition and send the IMF a message telling them to act now and to make this money worth its weight in gold.

Send an email to Dominique Strauss-Kahn, Managing Director of the IMF

Using the form below send an email in your own words to Dominique Strauss-Kahn demanding that the IMF makes a decision on gold sales that will benefit the poorest countries. Ask the IMF to guarantee that at least $5 billion of its gold reserves will be deployed quickly, without any harmful economic policy conditionalities attached, and with some of the money going towards debt relief. Let him know that this is the IMF’s chance to prove that they are ready to take action for the poorest people, and to make their money worth its weight in gold.

Yours sincerely,

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