[Newspoetry] IMF/World Bank Teach-In April 1st

[chyn at onthejob.net]

TEACH-IN
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International Monetary Fund and World Bank Teach-In
Saturday, April 1st  3 - 5 PM
409 N. Race St, Urbana
hosted by the School for Designing a Society
and members of the Socialist Forum
Questions? Call Sky at 344-7822 (EGG-RUBB)
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CARAVAN AND DONATIONS
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You are also invtied to join our caravan to D.C. and/or make contributions
to our trip.  All contributions are tax deductible and should be made to
the Performers' Workshop Ensemble and sent to 409 N. Race St., Urbana,
61801.  Please call Sky 344-7822 to join the caravan.
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WHAT'S HAPPENING?
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Last November 20 Urbana residents, including participants in the School
for Designing a Society, traveled to Seattle to join massive and
largely successful protests during the the meeting of the World Trade
Organization.

This April, we will continue to protest corporate controlled globalization
by traveling to Washington D.C. April 9-16.  During this time,
"highest-level architects" of the global economy will be meeting,
including the heads of the World Bank Group, International Monetary Fund,
World Trade Organization, and 25 finance ministers and central bank heads
from many nations.
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WHAT IS THE IMF AND WORLD BANK?
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Come to the teach-in to hear presenters talk about the history and policy
consequences of these two institutions.  You are welcome to ask questions,
to disagree, and to add your own knowledge to the pot.
  
In the meantime, here is a description of the IMF and World Bank which, I
think, best sums up the reason for the protest:

The unwritten goal of the IMF and World Bank was to integrate the elites
of all countries into the capitalist world system of rewards and
punishments. The billions of dollars controlled by the IMF and World Bank
have helped to create greater allegiance of national elites to the elites
of other countries than they have to their own national majorities. 

When the World Bank and IMF lend money to debtor countries the money comes
with strings attached. The policy prescriptions are usually referred to as
"structural adjustment" and they require that debtor governments open
their economies up to penetration by foreign corporations, allowing them
access to the workers and natural resources of the country at bargain
basement prices.

Other policies imposed under structural adjustment include: allowing
foreign corporations to repatriate profits, balancing the government
budget (often by cutting social spending), selling off publicly owned
assets ("privatization") and devaluing the currency.

These policies have, on the whole, deepened poverty, fostered
environmental degradation, increased the debt burden of poor countries,
and undermined democracy and workers' rights in developing countries.

For more information about the World Bank, IMF, WTO or the April protests
see http://www.a16.org (more about the actions)
or http://www.preamble.org/ (more about the IMF/WB/WTO)
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Thank you,

Danielle Chynoweth
School for Designing a Society