A new report by Bolivian NGO CEDLA shows that despite a new emphasis on civil society participation and poverty alleviation, the core policies attached to IMF loans have not changed. Participation in the design of the national poverty reduction strategy excluded many non-governmental actors and did not have the supposed impact on the final document. Using evidence from past programmes, the authors conclude the Fund’s Poverty Reduction and Growth facility and the PRSP are “unlikely to change the prospects of the economy and of the majority of the people in Bolivia”. They recommend social impact analysis of proposed policies and open public debate before a new letter of intent is signed.
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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).