News from international agencies
| Author | H. Johannes Witteveen |
| Position | IMF Managing Director, quoted in F&D |
| Pages | 3 |
Page 3
Developed and developing countries are giving a new push to the stalled Doha Round of global trade negotiations. Both groups called for the early resumption of global trade talks after discussions at the IMF-World Bank spring meetings in Washington in April. "Our aim must be to break the trade deadlock, push forward the development objectives of Doha, and both open our markets to developing countries now and remove trade-distorting subsidies," declared British Chancellor of the Exchequer Gordon Brown, chair of the IMF's ministerial steering committee. He attacked what he termed "the scandal of agricultural protectionism around the world," arguing that it costs developing countries more than double what they receive in aid each year. World trade talks have been stalled since the failure to reach agreement in Cancún, Mexico, last year.
As if rising sea levels, overfishing, water shortages, and inadequate sanitation service were not enough, the world's small island states are facing a new problem: rubbish. According to the United Nations Environment Program, island states are getting swamped by waste, ranging from discarded beer cans turning pristine shores blue-green to old sofas blocking lush creeks. Many states need help in dealing with the problem of solid wastes.
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IMF Annual Research Conference
The IMF said it is ready to help cushion the short-term adverse impact of trade liberalization on small developing countries with its new Trade Integration Mechanism. A qualifying member country may request funding if it expects a net balance of payments shortfall as a result of liberalization measures implemented by other countries. The mechanism does not cover balance of payments needs arising from reforms to a country's own trade regime. The funding would be made available to central banks to offset lower exports as governments adjust to greater...
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