The IIJD is an independent, not-for-profit international organization that actively advocates tackling the root causes of poverty by addressing systemic weaknesses, reforming institutions of governance, building capacity and empowering communities. With programs and initiatives based on participation, empowerment and sustainability, we treat not just the symptoms of poverty, underdevelopment, and insecurity, but confront their underlying causes. Read more....
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The IIJD 2007 Newsletter Archive:
 
Success Story: After Amounting Pressure from Civil Society Organizations, IMF Cancels Liberia’s Debt
By Anna Geueke
November 30, 2007
“I am pleased to inform you that on November 12, 2007, the International Monetary Fund (IMF) has secured adequate pledges from member countries for the cost of the IMF’s debt relief to Liberia, amounting to SDR 530 million (US $842 million)” [1].
In a newsletter article dating November 9, the IIJD highlighted the IMF’s apparent stagnation in its cancellation of Liberian debt accrued under the auspices of dictators Samuel Doe and Charles Taylor. The IIJD had joined millions of other voices pushing for the cancellation, arguing that the debt was illegitimate and money leant had never benefited the Liberian people [2].
On November 12, the IMF announced that it is finally writing off Liberia’s debt. The move came after the Fund endured heavy criticism in the international media last month for not following through on its commitment to Liberia, eighteen months after the country had met the IMF’s stringent policy conditions. In the international community, debt relief symbolizes a sense of true progress for Liberia and gives its democratically elected government, led by President Ellen Johnson-Sirleaf, a significant boost [3].
The IIJD genuinely applauds the IMF in its efforts to successfully secure the necessary funds for the cancellation of Liberia’s debt. It commends the work of civil society organizations, which were recognized as a major force in this success. As Massod Ahmed, Director of the IMF’s External Relations Department, added in his open letter, “I take this opportunity to thank all those who have expressed their concerns about Liberia’s debt situation. Their strong support to the cause of debt relief contributed to the broad donor support that made this financing possible.”
The IIJD recommends that all debts from loans given directly to support undemocratic regimes be canceled, and that all loans for foreign aid to dictatorial regimes be stopped. Development grants ought to be made available to those needy countries making efforts and achieving substantial progress toward democratic governance. By relieving countries of the burden of financing debt that is illegitimately owed, countries like Liberia can focus their government spending on essential social services, such as healthcare and education—services whose availability directly benefit the people.
 
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