The independent audit of the Compliance Advisor Ombudsman (CAO) into the Multilateral Investment Guarantee Agency’s (MIGA) due diligence for the Dikulushi copper-silver mining project in Katanga (see Update 49, 47) was finally made public in February. The audit found that MIGA did not adequately consider the risks that the project poses to local communities, nor did it fully understand the implications for its client of implementing the Voluntary Principles on Security and Human Rights. Congolese and international organisations welcomed the overdue release of the report, urging that all companies receiving Bank support comply with international human rights standards.
The IMF and the World Bank are increasingly engaged with the challenge of addressing how tax avoidance and evasion affect developing countries, but need to address the role played by multinational enterprises and tax havens in exacerbating inequality and undermining countries’ domestic revenues.
The Bretton Woods Project has published a new briefing providing a critical analysis of the IMF's latest work on gender equality. The briefing questions the sustainability of the Fund's new approach to gender equality and reveals that the Fund's analysis so far is limited and inconsistent with the full achievement of women's economic empowerment.
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