§ 27. Dr. CableTo ask the Secretary of State for International Development if she will make a statement on the activities of the IMF as they affect developing countries, following its annual meeting. [132208]
§ Clare ShortAt the Annual Meetings, IMF Governors including the UK strongly supported the objective of making globalisation work for all and reaffirmed the importance of the IMF's role in developing countries. The IMF's key responsibilities are to promote international financial stability, contribute to the establishment of sound macro-economic and financial policies and encourages pro-poor economic growth. The Government particularly welcome the commitment to speed up progress in implementing the enhanced initiative for Heavily Indebted Poor Countries (HIPC). We have strongly supported strengthening the link between the IMF's Poverty Reduction and Growth Facility and countries' Poverty Reduction Strategies. We also welcome efforts to improve collaboration between the IMF and the World bank. We will press for further progress in all these areas. We will also continue to encourage the IMF to take greater account of the relationship between stabilisation, structural issues, poverty and growth, and to support broad debate within countries about the design and impact of their policies.