04 September 2000

It's Democracy Stupid

The trouble with the global economy - the United Nations lost role and democratic reform of the IMF, World Bank and World Trade Organisation.


This report calls for radical reform of the World Bank, the International Monetary Fund and the World Trade Organisation to make them more democratic and prevent them from being simply a tool for American foreign policy.

It's Democracy Stupid

Executive Summary

This report argues that institutions like the World Bank, IMF and WTO – the cuckoos in the nest of global governance – must undergo democratic overhauls if they are to help achieve stated global goals of equitable and sustainable development, or even to run with rudimentary efficiency.

They must also learn to recognise the legitimate authority of truly representative bodies and international agreements arrived at during the 1990s, such as the Earth Summit treaties and international poverty reduction targets. These were agreements arrived at by the most open and inclusive negotiations that the international community has yet achieved.

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