COUNCIL for PARITY DEMOCRACY

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19 Mulready House Herrick Street Westminster London England SW1P 4JL

Tel & Fax + 44 20 7834 1309 Mobile + 44 7932 79 44 32 Email

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Honorary Secretary

Raymond Lloyd

PARITY DEMOCRACY and MONEY

World Bank / IMF Boards of Governors Dubai United Arab Emirates 23-24 September 2003

Annual Meetings Paper 9 @ Raymond Lloyd

Thirty years ago, in 1973, the newly formed UAE Currency Board in Dubai issued its first coinage: the two lowest denominations, at my suggestion, were designed to challenge young people on the importance of producing food, the bronze 1 fils showing a date palm with the inscription "Increase Food Production", the 5 fils showing a fish with the inscription "Cleaner Seas: More Food for Humankind". By 1996 rising prices were driving the 1 fils out of circulation, but the 5 fils remained in production, if in reduced size. Now even this is hard to find, but an ideal farm is still featured on the 10 dirham note. Other Gulf countries issuing food coins include Bahrain, Oman, Saudi Arabia and Yemen.

In 1995, the now UAE Central Bank issued 500 and 1000 dirham gold coins celebrating the 20th anniversary of the Women's Union. In 2003 both Oman and Qatar appointed their first full women ministers, although Bahrain, Kuwait, the UAE and Yemen have long had junior women ministers or under-secretaries. My 2003 analysis of Parity, Democracy, Dictatorship & Anarchy in the World's 192 Sovereign States is attached (A). Also attached is my annual list of women ministers of finance and governors of central banks (B).

This is my ninth paper on women's advancement, democracy and money prepared for the Annual Meetings of the International Monetary Fund and World Bank Group. All nine papers may now be downloaded free from my website, by clicking successively on "Documents", "Conference Papers" and "World Bank".

In 1960 I first suggested the institution of a Development Decade: my original proposal was attached to Annual Meetings Paper 6 in 1999. The idea was taken up by President Kennedy and the United Nations in 1961, and reaffirmed for three subsequent Development Decades by UN General Assembly resolution. Then, in 2000, a UN summit of heads of state and government pledged a series of Millennium Development Goals, to halve world poverty by 2015.

Meanwhile, in 1980, I had resigned my career in FAO and the UN, explicitly to work for the system's democratic regeneration. In 1989 I proposed the holding of a Democracy Decade, and the 1990s were so designated by the Group of Seven industrialized countries in their Political Declaration at Houston on 10 July 1990. During the 1990s, the number of democracies increased from 70 to 120. I have now proposed the holding of a second Decade of Democracy, to run from 2005 to 2015 (C).

The proposal notes several major anniversaries of democracy which may serve as target dates for consolidating or enhancing freedoms. Since 1997 I have listed these in advance on a monthly basis in The Parity Democrat, of which the 82nd issue, for October 2003, is attached (D). This issue may be of interest to ministers of finance and governors of central banks for three other reasons. It lists occasions in recent history when democracies have paid financial compensation to victims of government wrongs; the Anniversaries of Women's Empowerment includes, on 10 October 2003, the centenary of the Women's Social and Political Union, for which the British Royal Mint will put a "Give Women the Vote" 50 pence coin into general circulation; and it lists some 200 coins portraying distinguished women of history. A list of such banknotes was attached to my paper for the 2002 Annual Meetings.

Annexes

A. Parity, Democracy, Dictatorship & Anarchy in the World's 192 Sovereign States in 2003 1 p

B. Women ministers of finance and governors of central banks 2 pp

C. Proposal for a second Decade of Democracy 2005-2015 2 pp

D. "The Parity Democrat" ISSN 1367-6946: Vol 7 No 10 for October 2003 6 pp

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