Oxfam Berates World Bank, IMF

Oxfam International criticises the World Bank and the IMF for celebrating three percent increase in the voting power for poor countries

Oxfam International has criticised the World Bank and the International Monetary Fund (IMF) for celebrating three percent increase in the voting power for poor countries.

Oxfam's advocacy director, Bernice Romero, says the institutions are still far from being accountable to the people hit hardest by the global financial crisis.

Romero says that the G20 have mandated the IMF and the World Bank to tackle the economic crisis globally and for this response to be effective, adding that their decisions need to involve more than a handful of rich countries.

He says that concrete action is needed on a more ambitious rescue package for poor countries.

To read the article titled, “Oxfam Berates World Bank, IMF,” click here.

Source: 
<br /> All Africa
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