The World Bank Bonds Boycott:

The World Bank is one of the most powerful agents of corporate globalization. Just as working people and the poor in the United States have been subjected to corporate and government policies that limit the ability of people here to organize a union, gain access to health care, and enjoy a rising standard of living, people in the Global South struggle with policies promoted by the World Bank which have a similar effect. The World Bank encourages privatization of government services, requires the weakening of labor laws, and enforces "free trade" policies that sacrifice the rights of working people to the dictates of multinational corporations. Through its devastating "structural adjustment" programs, the Bank has also required poor countries to increase fees for health and education and cut spending on government services.

But there are ways that we can fight back, both to be in solidarity with our brothers and sisters in the Global South and to reclaim power ourselves. One way is through a new campaign through which citizens in a democracy, working people, students, and the poor can exert power over corporate globalization öand, at the local level, over how our unions and town councils invest our money. The World Bank gets about 80% of the money from its harmful projects and policies through the sale of bonds, which are issued through U.S. financial institutions like Citigroup, and its affiliate Saloman Smith Barney. World Bank bonds are purchased by large institutional investors, including city and state governments, universities, churches, mutual fund investors, and even trade union pension funds. This means that we can exercise our power -- locally ö to stop the World Bank from promoting global injustice.

You can ask your union, city council, church, or college to pass a resolution that it will not invest in World Bank bonds in the future. The effect of a large number of institutions committing not to purchase World Bank bonds will be a powerful force to demand fundamental reform in the global economy öwhich in turn will have a powerful effect on the U.S. economy. Already, the cities of Oakland and Berkeley, California, CWA local 9423 in San Jose, and several churches have passed bond boycott resolutions, and many others are pending before city councils and other institutions across the country.

Join the growing World Bank Bonds Boycott movement!

Fight back on September 26:

¯ Target a local Citigroup branch office and demand that Citigroup and its affiliate Saloman Smith Barney stop underwriting and selling World Bank bonds.

¯ Announce that your group or a local coalition will ask your city council, university, or other institution to pass a bonds boycott resolution.

Keep organizing after September 26!

¯ Build a local effort to get a resolution passed and lobby your trade union local or central labor council, town council, university, or church to pass a resolution. Announce your success in a press conference.

¯ Educate your co-workers and community on how globalization is affecting us at home and abroad and how we can mobilize against it. Contact us for ideas and materials.