Heads of the IFIs were in Geneva in November for a World Trade Organization conference to take stock of its aid for trade taskforce. Two years since its launch, there is still no accepted definition of ‘aid for trade’, no effective monitoring and evaluation mechanisms, and little or no additional money. Bank president Zoellick announced more of the same for the Bank: resources for infrastructure, private sector support and work on tools to analyse trade obstacles. Trade NGOs have developed aid for trade principles demanding that it: be provided without detrimental conditions; not serve as a quid pro quo for concessions in negotiations; and be additional to existing aid.
After 4 years of on-off negotiation and public opposition, the government of Egypt has signed a loan deal with the IMF whose impacts civil society fears will encroach upon human rights, social protection and social provision, like health and education, upon which the poorest depend.
Investments by the World Bank-hosted Global Financing Facility (GFF) do not reflect the family planning priorities identified by developing countries and local communities. The GFF also continues to suffer from a lack of transparency and meaningful civil society participation, raising doubts about the new mechanism’s effectiveness.
Donate to the Bretton Woods Project
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).