This coming October 12th to 14th, Tokyo is going to host the annual meetings of International Monetary Fund and the World Bank as well as the conferences of Finance Ministers and presidents of central banks from G7/G20 countries. More than ten thousand bureaucrats and officials will gather in several locations including Tokyo International Forum in Marunouchi district. Originally the location of the 2012 meeting was assigned to Cairo, Egypt, but the administration change by the democratizing impetus of the people ousted the plan. Thereafter, Japan’s Ministry of Finance intervened to push the idea of hosting the meeting, with the intention to appeal to the world the nation’s recovery after the 2011 Great East Japan Earthquake. Japan’s proposal was accepted. The reality however is that the recovery from the disaster, let alone the ongoing nuclear catastrophe, has made little progress.
The IMF has been demanding European countries the austerity policy, including cut-down of welfare, health care and education budgets in exchange for its financial aid. It is also said that the increase of consumption tax in Japan is in the work, as recommended by the IMF and followed by Ministry of Finance. Having imposed deficit of the burst bubble to the people by way of collecting public funds, Japan’s mega banks are now offering an enormous financing to the Tokyo Electric Power Company (TEPCO) with a prerequisite to restart nuclear power plants and increase electric prices. Like the bills for the burst bubble, all these bills are to be sent to the people in the form of tax increase. The recommendation of the IMF includes all these schemes. At the same time, the response of IMF to the present European financial crisis is nothing short of imposing deficit derivative of money games by the mega enterprises and banks (the 1%) upon us the 99% by way of the increase of consumption tax and the welfare cut-down.
The global action / GlobalNoise — is called for on October 13th. In Japan we will join with a series of actions protesting against the IMF/WB meetings along with our continuous campaigns concerning varied issues we are facing – including the nuclear industry. Our wish is to establish a solidarity with the peoples of the world, toward realization of a society for us the 99% on the planet.
To follow our actions, please visit:
10/13 Action against the IMF/WB
-International Monetary Fund and the World Bank-
The IMF, one of the United Nations specialized agencies, is consistently recommending an introduction of austerity policy and neoliberal economy to the world in exchange for its financial aids to the countries confronting financial crisis. The World Bank is proposing deregulation, free trade and privatization in exchange for its economic support to the developing countries.
Both of them are known for their undemocratic and opaque managements: their opaque personnel matters (always a European director of the IMF and an American president of the WB) and for the rights of a voice in accordance with the amount of donation (the US first and Japan as the second donor).