Initiated by Fondazione Internazionale Lelio Basso per il Diritto e la Liberazione dei Popoli, and the Spanish Coordination of Development NGOs, the Permanent Peoples’ Tribunal held a second session on the policies of the International Monetary Fund and the World Bank in Madrid from 1 to 3 October 1994. This followed the session held in West Berlin in 1988. The Tribunal once again examined the responsibility of both institutions in debt management and the implementation of structural adjustment programmes, analysing their effects on developing countries and the new international economic order.
Based on the gathered documentation, the Tribunal analysed the evolution of the International Monetary Fund’s and the World Bank’s roles, documented the economic, social, and environmental consequences of their policies, and examined the impact of trade and financial liberalisation on inequalities, people’s living conditions, and the autonomy of indebted states. Furthermore, it considers the effects of creating the World Trade Organisation and the growing influence of transnational corporations.
In its judgement, the Tribunal reaffirmed the responsibility of the International Monetary Fund, the World Bank, and the G7 governments for violations of individuals’ and peoples’ rights resulting from their economic policies.
Requesting organisations: Initiated by Fondazione Internazionale Lelio Basso per il Diritto e la Liberazione dei Popoli, and the Spanish Coordination of Development NGOs
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