World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


Trade unions call on IFIs to act on anti-inequality rhetoric

Trade unions call on IFIs to follow anti-inequality rhetoric with action

Brussels, 10 April 2014 - A statement issued today by the ITUC and its Global Unions partner organisations in advance of this weekend’s Spring Meetings of the IMF and World Bank (Washington, 11-13 April) calls on the international financial institutions (IFIs) to take concrete actions to follow through on their announced intentions to pay greater attention to employment and inequality issues.

The ITUC notes the IMF’s World Economic Outlook forecast made on Tuesday that economic growth will strengthen in 2014, in large part because of “a strong reduction in the pace of fiscal tightening”. ITUC General Secretary Sharan Burrow stated: “We are pleased to see the IMF recognise that drastic fiscal consolidation policies have been a drag on growth, something that unions have been saying since the inappropriate shift to austerity made in 2010.”

However she also observed that threats to growth may increase in emerging-market economies because of capital outflows. “The IFIs should help boost aggregate demand in countries with output and employment gaps and ensure that their financial support maximises decent work creation,” said Burrow.

Global Unions propose that the World Bank should use the opportunity of having created a “Jobs Cross Cutting Solutions Area” by applying the recommendation of the World Development Report 2013: Jobs to submit all Bank-financed activities to employment assessments. Burrow added: “The Bank should follow the example of most other multilateral lenders by adopting a comprehensive and fully enforceable labour standards safeguard.”

The ITUC’s General Secretary welcomed the concerns expressed by the IMF and World Bank about growing inequality in speeches by top management, but she cautioned that the IFIs must take steps to ensure that these concerns are not counteracted by their own lending programmes and policy advice. She remarked: “The IMF’s undermining of labour standards and collective bargaining institutions in several European countries, for example, has already had important impacts on income distribution that are likely to intensify in the future. We urgently call for a review and major changes in the Fund’s labour market policies.”

The statement by Global Unions to the 2014 Spring Meetings of the IMF and World Bank is available here:
• English : http://www.ituc-csi.org/statement-by-global-unions-to-the-14555
• (also Italian, Russian and Ukrainian)
• Spanish: http://www.ituc-csi.org/declaracion-de-la-agrupacion-14559?lang=es
• French: http://www.ituc-csi.org/declaration-du-groupement-global-14558?lang=fr
• German: http://www.ituc-csi.org/erklarung-von-global-unions-14561?lang=de

The ITUC represents 176 million workers in 161 countries and territories and has 325 national affiliates. Follow us on the web: http://www.ituc-csi.org and http://www.youtube.com/ITUCCSI

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

As Health Needs Rise In Somalia, Funding Hits New Low

As health needs rise in Somalia, funding hits new low, cutting off 1.5 million from care – UN More>>

Need To End Violence Against Children In Conflict

‘We should be outraged’ more not being done to end violence against children in conflict – UNICEF chief More>>

On Mandela Day, UN Joins Call To Promote Community Service

Nelson Mandela, then Deputy President of the African National Congress of South Africa, raises his fist in the air while addressing the Special Committee Against Apartheid in the General Assembly Hall. UN Photo/P. Sudhakaran More>>

Some $3.2 Billion Needed For Ebola Recovery Efforts

Some $3.2 billion needed for Ebola recovery efforts in Guinea, Liberia and Sierra Leone – UN More>>

World Day: UN Spotlights Plight Of Vulnerable Populalations

Syrian refugees fleeing the fighting near the Syrian city of Kobani wait in a holding area before boarding buses in Turkey (September 2014). Photo: UNHCR /I. Prickett More>>

Afghanisatan: Direct Talks Between Government And Taliban

The United Nations Security Council has welcomed the recently held direct talks between Afghan Government and Taliban representatives as a step towards “peace and reconciliation” in the region. More>>

Eradicating World Hunger By 2030

Agriculture workers collect carrots on a farm in Chimaltenango, Guatemala. Photo: World Bank/Maria Fleischmann More>>

Bangladesh: Flood Leads To UN Agency Providing Food Relief

Anwar Hossain unloads cartons of High Energy Biscuits from a pickup truck and transfers them to a distribution center in Kawar Khop union, Ramu upazila, Cox’s Bazar, Bangladesh. Photo: WFP/Kamrul Mithon More>>

Ban Says World Must Act Now To Curb Climate Change

Alarmed by melting glacier in Norway, Ban says world must 'act now' to curb climate change More>>

UN Spotlights Data And Technology As Key To Sustainability

The importance of quality data and cutting edge information communication technologies (ICTs) is increasingly critical to the shaping of the future sustainable development agenda, the head of the United Nations Development Programme ( UNDP ) confirmed today. More>>

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news