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Bond In Investing Savings Contact:
Neil Watkins (202) 299-0020
Soren Ambrose (202) 544-935

Bond Investment Toledo Toledo WASHINGTON -- As activists target the spring meetings of the IMF/World Bank with demands for 100% debt cancellation, the World Bank Bonds Boycott marks its one-year anniversary with an announcement that 25 institutions throughout the U.S. including city governments, trade unions, churches and investment firms have committed not to buy World Bank bonds. Resolutions are pending at more than twenty additional institutions.

Central banks create money either by printing it or by buying bonds in the treasury market. When central banks buy bonds, they usually buy their own country's treasury bonds, and their purchases are made from banks that own bonds. The money from the central banks goes to the bank vaults, making capital.

James Bond Trading Card Six new entities including the City of Takoma Park, MD, Harrington Investments, L.L. Blake and Associates, United University Professions (an AFT affiliate with 24,000 members), the San Francisco Central Labor Council, and the New York Province of the Marianist Brothers and Priests -- have committed not to buy World Bank bonds in just the past seven weeks.

Bond In Investing Stock Bertha Caceres Flores, a member of the Executive Committee of the Council of Indigenous Peoples in Honduras, said, "Everyone knows of Honduras' problems from Hurricane Mitch. But we are experiencing a permanent hurricane, much more destructive than Mitch, which is the policies of the World Bank and IMF. The destruction comes from the globalization of poverty, due to the World Bank and IMF putting all the riches of our land --human and natural-- at the disposition of multinational corporations."

Stage 2 The purchaser makes his initial payment (deposit) and receives a copy of the Deed of Sale for his records, as does the seller. Simultaneously, Agreement of Sale, to enable him to draw up his documents and a copy is filed by the Estate Agency. Bond application and approval The buyer applies for a bond with a bank. MortgageSA does this on behalf of the buyer. Once a bond has been granted by the bank it advises the Bond Attorney to register the bond.

Municipal Bonds Investment The campaign, modeled on the anti-Apartheid movement, is hitting the Bank at its Achilles' heel: its public image and its financing. The Bank is becoming increasingly concerned about the growing campaign. For example, high-level World Bank staff were recently dispatched to one city which is moving toward passage of the boycott, to lobby against passage of the resolution.

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Bond Terms Trading The new institutions announced today join a growing list of institutions that have committed not to invest in World Bank bonds, including the city governments of San Francisco, Oakland and Berkeley; the Communications Workers of America; the United Electrical Radio, and Machine Workers of America; and ten socially responsible investment firms, including Calvert Group.

Bond Debt High In Inside "The World Bank is trying to paint itself as an institution that promotes social welfare. But the reality is that the Bank continues to push policies like user fees on health care, privatization of essential services like water provision, and policies that suppress workers' abilities to organize and raise their standard of living," said Neil Watkins, the campaign's coordinator. "We are using the boycott to demand an end to the Bank's policies which place corporate rights over human rights. At the same time, the boycott is supporting the poor peoples movements around the world who have said 'enough is enough'."

Bond Greenville Greenville The demands of the boycott campaign are an end to World Bank structural adjustment programs and similar harmful lending practices, as well as 100% cancellation of debts owed to the World Bank without use of citizens' tax dollars.

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