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Show TheSalt Lake Tribune NATION/WORLD ed 1 TS IMF to Let Nations World Bank, IMFProtests Milder Than Anticipated Declare Bankruptcy THE WASHINGTON POST WASHINGTON Downtown Washington bristled with police for a second day Saturday, but the thousands of protesters they had geared upforfailed to materialize. BY MARTIN CRUTSINGER THE ASSOCIATED PRESS WASHINGTON Finance leaders directed the International Monetary FundonSaturday to de Activists had timedtheir actionsto this weekend's annual meetingsofthe International Monetary Fund (IMF) and the World Bank andhadsaid they would try to prevent delegates fromleaving the meetings, but they abandoned that plan in the faceof heavy police presence. On Friday, velop a dramatic n proach to resolving debt crises that have en. gulfed countries from Asia to South America, anotherset of street actions intended to shut downthecity never gained enough momentumand were quickly put downby police. Some protester placed at 3,000 to id their numbers, which police were disappointing. They said it Thegoalis creationofa process “It seemsto be alittle small. It would be greaterif the issues were more visible,” said Cathal Healey-Singh, a civil engineer who worksin Barbados and came to march much smaller antiwar marches. Someacti time gap betweenprotests cost momentum. morelenient repayment terms. tions complained that the wealthy nations were not putting up suffi cient money, World Bank Presi and force creditors to negotiate andthatit embracesissues that don’t provide easy rally ingpoints. ministers. Thestepis a milestone in over haulingthe ¢ 2 Theeffort has movedinfits and starts since the Asian currency isis of 1997-98 pushed40percent of the world’s economy into recession. ne announcement by Britain’s chancellor of the exchequer, Gor: don Brown, and the IMF's manag: Matthew Cavanaugh/The Associated Press. Ready for tear gas, a demonstrator waits outside the World Bankbuilding Saturday duringinternational monetary sessions. GET CLINIQUE’S BEAUTY SCOOP kets, Latin America’s debt crisis and possible warin Iraq. The finance ministers who serve as the IMF's board of direc: tors sought to allay those fears, Treasury Secretary Paul O'Neill The orderfor the 184-nation IMF camefrom thelending institution's policy-setting committeeof finance able debtcoulddeclare bankruptcy fered froma shift inactivist priorities since Sept. 11, 2001, The meetings came against a backdropof rising worries about the uncertain economicrecovery from last year’s recession, Chief concerns plunging stock mar said “handwringers” were ignor ing positive economic developments. Whilecritics of the organiza bywhich nations with unmanage- suggested that the antiglobalization movementhas suf- Saturday. In April 2000, about 20,000 people hit the streets in Washingtonto protest the policies of the IMF and World Bank, which some say throwdevelopingcountries into crippling debt and fund projects harmful to the environment. Those protests came several months afteractivists in Seattle shut down meetings ofthe World Trade Organization amid clouds ofteargas andstreet battles with police. Last year's annual meetings were calledoff becauseof the Sept. 11 terrorist attacks, and the antiglobalization protests scheduled to coincide with themwere replaced by AS Sunday, September 29, 2002 ing director, Horst Koehler, was likely to be the biggest achievement of this year’s annual meet ings ofthe IMF and WorldBank. dent James Wolfensohn rejected that view. He said the United States and European Union have pledged a combined $12 billion increase in foreign aid over the next three years. 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