§ Viscount Brentfordasked Her Majesty's Government:
What conclusions they drew from the Copenhagen Summit on Social Development about the World Bank's and IMF's programmes for structural adjustment; and whether they need to be reformed.
§ Baroness Chalker of Wallasey:At the summit, the Acting President of the World Bank acknowledged that, although the bank has worked extensively on measures to protect the poor and vulnerable groups during transitional periods of economic reform, it recognises that it must do more to help borrowing 88WA countries protect social expenditure; and, beyond this, to focus such expenditure on the poor. We will continue to press the bank, for example during the negotiations on the 11th replenishment of the International Development Association, on the need to ensure that poverty reduction concerns are effectively integrated into all aspects of their country assistance, including adjustment lending. At the same meeting, the Managing Director of the IMF reaffirmed his commitment to help member countries achieve high quality, sustainable growth.