The World Bank Campaign Europe has called on European governments to consider redirecting funding away from the Bank unless it ends economic policy conditions and support for fossil fuels. In October, it held a public hearing where testimonies were given on topics including the West Africa gas pipeline, cotton sector liberalisation in Mali, and the Bank’s role in food insecurity in Malawi. A similar hearing took place in India in September (see Update 57) and another is planned for Bangladesh (see comment, Update 58). A US campaign has backed the European demands and added a third request – improved accountability for development results.
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.
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