IMF woos protesters

Demonstrators formed a human chain on Capitol Hill on Sunday

The IMF has sought to defend its policies ahead of planned mass demonstrations at this weekend's global financial gathering.

We have the same goals as the demonstrators - we both want to reduce poverty

Stanley Fischer

Acting managing director, Stanley Fischer, delivered a plea for understanding to those who planned to disrupt the meetings of the International Monetary Fund and World Bank in Washington.

He said he wanted to listen to the protesters, but defended the organisation against the criticism that it made poverty worse.

"We have the same goals as the demonstrators - we both want to reduce poverty, especially in the poorest countries," he said.

IMF's Stanley Fischer attacked the arguments of the demonstrators

He also sought to defend globalisation - the bane of many activists who contend that global capitalism has failed to help the poor.

"All the evidence is that the best way to grow is to integrate into the global economy," he said.

Trying to bar imports and ignore the global marketplace just did not work, he added.

Protests

Environmentalists, human rights activists, anti-free trade lobbyists and other groups are planning big protests on Sunday and Monday, when ministers meet in the IMF's headquarters in Washington.

Police have tightened security in the US capital to ensure that the protests do not degenerate into riots and vandalism similar to those seen last year at World Trade Organisation talks in Seattle.

We are trying to avoid what happened in Seattle with its widespread disruption

Washington police Chief Charles Ramsey

Washington police say that a number of people suspected of planning riots have already been arrested.

More than 700 pieces of pipe, as well as rolls of chicken wire, gas masks and other items have been confiscated, they said.

"What we are trying to do is to avoid what happened in Seattle with its widespread disruption. We do not want to have things get out of control," Washington police Chief Charles Ramsey said.

The agenda

Among other issues, the IMF will examine the world economic outlook, how to streamline its complicated lending process and how to ensure countries do not misuse borrowed money.

Anti-globalisation protests in Seattle last year turned violent

On Monday, the future of the World Bank will be discussed, as will plans for more liberal trade rules and proposals for responding to the spread of Aids.

Another contentious issue is the selection of the IMF's new leader to replace Michel Camdessus, who resigned earlier this year.

The issue has dented transatlantic relations, and both sides have demanded openness and transparency in filling the top job.