Social Watch launched its 2008 report

International Financial Institutes in Latin America

Published on IFI’s Choike.org, by Social Watch, dec. 01, 2008.

download the full report on social watch, in Pdf or WORD.

The unusual combination of financial crisis, food crisis, energy and climate crisis requires a new approach based on human rights, argues the international Social Watch coalition in its 2008 report, launched during the United Nations Conference on Financing for Development. Next December 10, as the report remembers the 60th Anniversary of Universal Declaration of Human Rights will be commemorated and the title of the Social Watch Report 2008 is, precisely, “Rights is the Answer” …

… Kinda Mohamadieh of the Arab NGO Network for Development provides a developing country perspective in her thematic report on social and economic rights in the Arab region, proving how in recent years, economic liberalization has actually thwarted attempts to strengthen democracy in the region. “The regimes in power have failed to address the pressing socio-economic problems that the region faces and the economic reforms implemented mainly respond to requirements by major international institutions and developed partner countries that not necessarily serve the local needs and priorities”, states Mohamadieh.

These reforms are only perpetuating the social and political marginalization of the vast majority of the Arab population, by excluding the citizenry from participation in decision making processes and by aggravating ills such as unemployment and the inadequate provision of social support programs.

Confronted by the numerous structural and circumstantial obstacles created by the fatal flaws in the global financial architecture that block the full realization of the human rights of all the world´s citizens, Social Watch calls for the convening by the United Nations of a comprehensive, inclusive process to review and reconstruct the international financial and monetary institution. As Roberto Bissio urges, “In the transition from the current system – which has fostered instability and inequality – towards a just, sustainable, and accountable one, human rights must be the starting point and not some distant goal in the future.” (full text).

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