A new IMF working paper on the New Partnership for Africa’s Development (NEPAD), calls the agreement “visionary”. The paper urges “the active selling of reforms”, saying that “efforts underway to establish national and regional communication centers are steps in the right direction.” The Fund’s response to NEPAD includes the HIPC debt-relief initiative, increasing work on transparency/accountability and intensified support for capacity building – highlighting the opening of the African Regional Technical Assistance Centre in Dar es Salaam. For their part, African governments will need to “use PRSPs to translate NEPAD’s framework into operational blueprints.”
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Last year BRICS' leaders agreed to launch a BRICS development bank. Whether this is considered positive depends in part what questions are being asked. Sameer Dossani of ActionAid International highlights the flaws in the World Bank and IMF, analyses whether a BRICS Bank could be different from these institutions and proposes what it should do and what it should look like.
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).