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

 

Japan: Independent Experts Slam Japan’s New Whaling Plan

Independent experts slam Japan’s new whaling plan and declare no more whales need to be killed for Antarctic research More>>

Gaza Strip: Gaza Strip: Attacks In The Border Areas

Following disengagement from the Gaza Strip in September 2005, Israel unilaterally and illegally established a so-called “buffer zone”, an area prohibited to Palestinians along the land and sea borders of the Gaza Strip. The precise area designated by ... More>>

Australian Government: Iraq Deployment: Joint Press Conference, Canberra

Back in March, the Government announced that we were preparing a force for a Building Partner Capacity training mission in Iraq. I can inform you that today the Cabinet has decided to deploy that force. The deployment will start tomorrow and we expect ... More>>

UNHRC: UN Committee Against Torture To Review New Zealand

UN Committee against torture to review New Zealand, Congo, Romania, Luxembourg, Spain, Serbia, Colombia, Former Yugoslav Republic of Macedonia More>>

UNHRC: Nigeria: One Year On, Call To Bring Back Abducted Children

Nigeria: One year on, UN and African experts call for decisive steps to bring back abducted children More>>

EU & US Let Iran Win Top Seat On UN Women’s Rights Board

EU & US Allowed Iran to Win Top Seat on UN Women’s Rights Board, Rights Group Says More>>

Peaceful Tree Planting Attacked By Zionist Settlers/soldiers

Peaceful tree planting attacked by zionist settlers and soldiers, two Palestinians hospitalised and a German activist arrested. More>>

One Year On: WWF Fails To Act Against Abuse Of ‘Pygmies'

Baka 'Pygmies' have faced harassment, beatings and torture by anti-poaching squads supported and funded by WWF. Conservation giant World Wide Fund for Nature (WWF) has failed to take action against the abuse of Baka “Pygmies” and their neighbors ... More>>

Cyclone Pam Evacuation Centers Home To New-Born

UNFPA Pacific, Port Vila, Vanuatu (March 25, 2015) - As her family settled into one of the classrooms at Freswota Primary School in Cyclone Pam-stricken Port Vila, in the Pacific island nation of Vanuatu, Meri Yalu was more troubled by an impending ... More>>

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news