The WFM International Secretariat recently contributed to the UN General Assembly President's Commission of Experts on Financial Reform, through an NGO consultation process facilitated by the UN-NGO Liaison Service (NGLS).

WFM's submissions included:

• Overview of proposal for a Currency Transaction Tax (CTT), being developed by WFM-Institute for Global Policy




• Draft options paper: "Strengthening the Relationship between ECOSOC and the Bretton Woods Institutions for a Coherent and Effective Financial and Economic Architecture", being developed by WFM-Institute for Global Policy




• November 2008 Resolution of WFM Council re: adoption of a World Currency

The Committee for a Democratic UN (KDUN) submitted a statement from the Campaign for a UN Parliamentary Assembly (UNPA).

The report to the "Stiglitz Commission" compiling the NGO submissions, was released on February 25. It included an excerpt from WFM's CTT proposal (see pg. 13-14) and a summary of the UNPA campaign.

The ideas contributed by WFM on reform of the global financial architecture were shared by others:

“Many argued not only for a stronger role for the United Nations in the immediate response to the crisis: responsibility for coordinating the longer term … reforms should ultimately fall squarely with the United Nations, as the most globally representative and participatory body currently in existence. Major reform decisions that will affect all countries cannot be left to the G8 or even the G-20. In the same vein, when calling for in-depth reform of the World Bank, the IMF [etc], most respondents advocated that these be brought institutionally under the purview of a strengthened United Nations, and be in practice accountable to UN human rights, development and environmental objectives.”