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22 April, 2001The IMF general secretary questions the spirit in which the FTAA agreement was negotiated and says it will not benefit the people.
THE AMERICAS: In his opinion column published on April 23, 2001, Marcello Malentacchi, IMF general secretary, calls the agreement signed at the FTAA Summit for the Americas, held in Quebec on April 20-22, "a new agreement for the rich".
Although free and fair trade is one of the best instruments for development, certain fundamental conditions must be fulfilled for this purpose, such as a clause guaranteeing minimum labour and environmental standards, and increased purchasing power, particularly in developing countries, so that people are able to buy what they produce.
Malentacchi says, however, that the new agreement was not negotiated in this spirit.
Read the full text of the opinion on the associated link or go to "IMF Opinion" on www.imfmetal.org.
Although free and fair trade is one of the best instruments for development, certain fundamental conditions must be fulfilled for this purpose, such as a clause guaranteeing minimum labour and environmental standards, and increased purchasing power, particularly in developing countries, so that people are able to buy what they produce.
Malentacchi says, however, that the new agreement was not negotiated in this spirit.
Read the full text of the opinion on the associated link or go to "IMF Opinion" on www.imfmetal.org.