Bretton Woods Project coverage of the 2016 annual meetings in Washington DC with analysis of the communiqués and notes from key civil society and official meetings.
Civil society organisations have demanded that the IFC develop a responsible tax policy that ensures that IFC investments are consistent with its development mandate and do not support companies utilising aggressive or abusive tax practices.
IMF’s Independent Evaluation Office has found the Fund’s 2010/2011 Troika lending to Greece, Ireland and Portugal fell short in terms of surveillance, design, implementation and decision making, and described controversial decisions as appearing “rubber-stamped”.
World Bank approved new safeguards after a four year process. Civil society warned of loopholes in new Bank safeguards, its reliance upon “borrower systems”, the lack of references to LGBTQ people and to recognised core ILO labour standards.
As the world economy continues to stutter, many sub-Saharan African countries are turning to the Fund for financial support, though the Funds are coming with strict conditions to restrict spending.
A new IEG report highlights persistent concerns with the World Bank’s monitoring and evaluation systems and ‘sluggish’ management response, and raises questions about the effectiveness of the Bank’s integration of gender within its operations.
Despite their popularity, PPPs have a very bad track record of delivering cost-effective investment for governments, and pose additional and serious problems by reducing transparency and accountability.
As Eurozone countries agree a new loan package to Greece, the IMF has conceded to ‘major concessions’ instead of up front debt relief and may participate in a new programme despite its insistence that the Fund's involvement in future programmes is dependent on ‘significant debt relief’.
The World Bank and IMF’s annual meetings will be held 7-9 October 2016 in Washington DC.
Indigenous peoples in Bangladesh have submitted a complaint to the Inspection Panel regarding a World Bank funded transport feasibility study.
Forced labour victim and human rights defenders have filed a complaint with CAO, alleging that IFC knowingly finances a company benefiting from forced labour.
The World Bank has announced that it is withholding new lending for Uganda, following the cancellation of a criticised road project.
Communities affected by a World Bank-funded power line project in Nepal have accused the Bank of reporting false information on consent to the project.
IMF’s managing director lost a July appeal to avoid trial in France over negligence while French finance minister.
Uganda has announced that it will close IFC-backed Bridge Academy private schools due to poor hygiene and sanitation.
The World Bank has suspended funding for the much criticised Inga 3 hydro power project in the Democratic Republic of Congo.