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

 


$1 Billion In Reparations For Iraq's Invasion Of Kuwait

UN Panel Pays Out Over $1 Billion in Reparations for Iraq's Invasion of Kuwait More>>

UN-Backed Tsunami Warning System Test

A view of the destruction caused by the Indian Ocean tsunami of 26 December 2004 in Point Pedro, a small fishing village in northern Sri Lanka. UN Photo/Evan Schneider More>>

Al Jazeera To Mark 300 Days Since Arrests Of Journalists

• 300 second montage to mark 300 days to be aired on Al Jazeera • Parents of Peter Greste say the past 300 days has been stressful Doha , 23 October, 2014 More>>

4 Months’ Jail For French Journos Should Be Enough

'We hope it will be a lesson for foreigners to not violate their visas in Indonesia.' More>>

Support Needed For Olive Farmers In Palestinian Territory

Olive trees in the Palestinian town of Ni'lin in 2008 were very close to expanding Israeli settlements. Photo: IRIN/Shabtai Gold More>>

ALSO:

Use Of Drones In Law Enforcement May Violate Human Rights

22 October 2014 – The increasing use of armed drones within domestic law enforcement risks depersonalizing the use of force and infringing upon the rights of individual citizens, a United Nations independent human rights expert warned today. More>>

Gaza: Pledges For Aid, Reconstruction Must Be Honoured

Secretary-General Ban Ki-moon (left) addresses the Security Council meeting on the situation in the Middle East, including the Palestinian question. Security Council President for the month of October, María Cristina Perceval of Argentina, is at ... More>>

Ebola: UN Prepares For Arrival Of Trial Vaccines

In early October 2014, with the help of the US Navy, a new mobile laboratory opened at Island Clinic, one of the WHO-supported Ebola Treatment Units (ETU) in Monrovia, Liberia. Photo: WHO/R. Sørenson More>>

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news