IFI governance

Background

Great expectations: Is the IMF turning words into action on inequality?

13 October 2017 | Minutes

Manifestación "Pobreza Cero" en Madrid, España, 2006 Credit: Carlos Capote

Organisers: Oxfam International with Development Finance International and New Rules for Global Finance

Speakers:

  • Nadia Daar (head of Washington office, Oxfam International) (Moderator)
  • Chiara Mariotti (Inequality Policy Manager, Oxfam Great Britain)
  • Matthew Martin (Executive Director, Development Finance International)
  • Chenai Mukumba (Zambia Country Director, Consumer Union Trust Society)
  • Daria Zakhrova (Head of Poland/Baltic Unit, IMF)

Nadia Daar (ND)

We have heard a lot about inequality during this week at Annual Meetings. Multiple papers have been released on the subject, Winnie Byanyima of Oxfam was given a full hour to speak on inequality here at the IMF. The fight inequality alliance has been out in full force. Many of us have been excited about the Fiscal Monitor’s focus on inequality. The report Are the Multilateral Organisations Fighting Inequality has been published (see FES’s website), and now Oxfam has released its paper Great Expectations: Is the IMF turning words into action on inequality? (see Oxfam’s website), which focuses on its work in surveillance. We will start with Chiara presenting that paper.

Chiara Mariotti (CM)

We have seen the Fund recognise that tackling inequality is essential to its own mandate of growth and stability. Yesterday we saw in the Fiscal Monitor that the Fund keeps moving forward on this issue. With these powerful messages the Fund has contributed to shift the global debate on inequality. But the Fund can cast its power beyond words and use its policies. We want the Fund to use its full powers to decrease inequality. So we at Oxfam have started asking what this looks like in operationalisation. We were told there were surveillance pilots that systematically integrated inequality. We looked at these in detail. What was the methodology? What were the policy recommendations on gender, tax, labour markets and social spending? We had great expectations. Things we expected to see included things like an analysis of the main drivers of inequality and distributional analysis of the main policy changes suggested. We were hoping to find progressive recommendations. Critically, we were hoping to see some attempt of an overall assessment of core macroeconomic policy on economic inequality.

We found some good things. In particular, in some countries there was a general equilibrium model applied to look at some distributional impacts of some policies, in particular the impacts of value-added tax (VAT) increases and subsidy cuts. Some of the best practices we found were in Guatemala, where we found a comparison between distributional impacts of personal income tax versus VAT, which unsurprisingly found the former more beneficial.

One of the main findings of the report is that the way the policies are applied is not coherent. It is not clear what is ‘macro-critical’. Let us say inequality is found to be a problem for growth and stability, and this was the case for countries where pilots were taking place. If this is the case, one progressive tax measure or some safeguard of social spending is only a baby-step to the challenge you have. And these baby-steps are measures each country should implement. No measurement of how much inequality should be reduced matched with policies that specifically try to tackle that. We found no assessment of main macroeconomic policy advice, in particular of fiscal adjustment. Again, while it is good to do safeguarding of social spending there needs to be a check whether that is feasible together with the suggested structural adjustment plans. We also found no progressive labour market policies except the US. One very common measure found was cutting the wage bill.

So, we do like this initiative of the IMF. We would like it to be mainstreamed in all countries. We have some suggestions outlined in the report.

  • Establish criteria for when inequality is ‘macrocritical’, which should mean when it needs to be included in surveillance.
  • Monitor some key indicators establish a threshold.
  • Start thinking of how to do this assessment of core policies which is what really makes the difference. Learn about the impacts of policies so you can maximise positive impact on poverty instead of using a compensatory approach.
  • Finally, we want this agenda to be pushed forward in lending and conditions.

Matthew Martin (MM)

There are three different reports I want to share:

  1. Commitment to Reduce Inequality Index
    1. A new global ranking of governments based on what they are doing to tackle the gap between rich and poor.
    2. One of its main findings is that three-fourths of governments around the world are doing less than half of what they could be doing to reduce inequality, so there is a huge need for progress and advice from institutions like the IMF to advance this agenda.
  2. Is IMF tax practice progressive?
    1. The report found little evidence of anti-inequality tax recommendations of the IMF in surveillance. It found very little delivery on making tax more progressive.
  3. Are the Multilateral Organisations Fighting Inequality
    1. This Financial Impact Report assesses the role of the international financial rule-making organizations in reducing economic inequalities.
    2. Some of the main conclusions on the IMF are that, compared to others like the World Bank, it looks better than other organisations with regard to inequality but only because everyone is doing very badly. Only the ILO on labour is making real impacts on inequality. The IMF is really lagging in particular on labour and social protection, but we see more positive signs on tax and perhaps gender equality.

It is important to discuss the politics of this and internal dynamics. Some IMF board members still do not think equality is ‘macrocritical’. Even in Sweden, it is macrocritical. It would be great to have the IMF step up and take on the difficult discussions on inequality, like a discussion between the IMF and the US government for example, who is being really regressive. The key of this will be when the IMF has to speak up globally for these policies.

Chenai Mukumba

I am representing civil society in Zambia where the IMF is engaging on a loan programme and is in an inequality surveillance pilot. In Zambia there are a lot of civil society organisations (CSOs). We started working in networks to help coordinate our work. I am now part of a network of 50 CSOs that work on poverty and inequality. In 2015, when IMF talks started, CSOs came together and set out our hopes and concerns, because we had had bad experiences with the IMF on inequality.

We engaged with finance ministers and were able to express our concerns with the IMF programme. That took us to the end of 2015 to mid 2016. As discussions built, we received invitations of the IMF mission chief to discuss the programme as well. As a result, we as CSOs engaged with the mission chief and shared our views on subsidies and social protection. But that is where it ended.

There was no feedback mechanism, no idea how much our views were being incorporated. That was a weakness of the process. So, we aree asking for a more structured, rather than ad-hoc approach to consultation with CSOs. We have heard this was perhaps done well in Ghana, where CSOs were part of the actual negotiation process. This is important because initially, the citizenry of Zambia was generally not enthusiastic about a new IMF programme, so engagement helps gain support for upcoming reforms before they are decided upon and implemented.

Daria Zakhrova (DZ)

Let me start by making clear we at the Fund do care about extreme inequality. It is counterproductive for economic growth and stability. One thing we learn from operationalising this policy advice is the value of consultation and collaboration. I am being very sincere, you provide a different perspective. That helps us enhance our analysis and quality of policy advice. We should have deeper engagement with one another.

This operationalisation initiative began in 2015. Now it is in technical assistance (TA), surveillance and lending. So far we have completed 27 gender pilots and 28 inequality pilots. To respond to a few points of what was said earlier: I agree we need to see a more systematic analysis of drivers of inequality. We did that relatively well for Poland. They were doing well economically, yet the government was voted out of the office. This is where we come to inequality, whether growth is trickling down to everyone. There were big divisions within the country we found. You mentioned there were no distributional impact assessments done. But in Guatemala, we did look at the impacts of the entire package of policies. That same model has now been applied to a dozen countries. The advantage of the model is that you can look at the entire policy package, tax, expenditure, etc. Uganda is where we looked at distributional effects of infrastructure, Honduras as well, where we looked at ex-poste implications of the tax reform. We found the reforms were progressive.

The Oxfam report says that we talk about mitigating and compensation. We don’t talk about reforms that make them more permanently better off, says Oxfam. That analysis should be more nuanced.

We agree on a lot of your recommendations. We need a more systematic approach on how we cover inequality. We wanted to allow teams to experiment in surveillance. Let 1,000 flowers bloom and now we are starting to put that all together. Your report will be central to that work.

You also recommended we leverage our general equilibrium model more, not just tax and subsidies. Well, I am happy to announce we will do a gender impact assessment with the general equilibrium model, starting with Argentina and Senegal, in a new wave of pilots we have launched.

More broadly, I think Oxfam might have had too big expectations. We are limited with our institutional mandate, but we are trying to move forward as best and as fast as we can on this.

Question: It seems to me like the test for seeing whether the Fund really considers this core to their work or whether it is secondary is how it will deal with inequality in an economic crisis. Can this be prioritised during a crisis as well, or can it only come in surveillance when things are relatively better?

Question: We have heard a few times this week IMF staff seem prepared to conduct these impact assessments and expand their work on economic as well as gender inequality, but now we are getting to a capacity issue, rather than perhaps limits stemming from the Fund’s mandate. How much do you foresee capacity becoming an obstacle to this agenda and how do you see your relationship with other institutions like UN Women perhaps expand to help address the Fund’s limited expertise in this.

DZ:

On the capacity issue, we do admit that on the new areas we have less expertise. These are core issues for us, Lagarde was clear on that this week. But we do recognise that we need to collaborate with other organisations more, we have been cooperating with UN Women, like in the UN High Level Panel on Women’s Economic Empowerment. Now we are starting to work more with the ILO on macrostructural issues as well. For years we have been collaborating with World Bank. We do need resources, the model and all the research has so far been financed separately by DFID. They have also financed a lot of our gender-responsive budgeting work. We do need to lean more with other organisations.

On conducting ex-ante impact evaluations, we have already for years been looking at distributional implications of certain policies. Perhaps this is not advertised widely, we did this for subsidy cuts for 20 years. In Angola for example, we removed energy subsidies and looked at distributional implications. That is published. In 2007 I also worked on a Philippines Working Paper on VAT and looked at distributional impacts then.

Discussions continued but BWP staff had to leave early due to conflicting commitments.

More background on this issue

IFI governance

Background

13 October 2017 | Minutes

Great expectations: Is the IMF turning words into action on inequality?

Notes from the 2017 World Bank and IMF Annual Meetings session on the IMF's approach to inequality, 13 October.

IFI governance

Background

12 October 2017 | Minutes

Diagnosing governance challenges in the extractive sector: The Resource Governance Index and beyond

Notes from the 2017 World Bank and IMF Annual Meetings Civil Society Policy Forum session on the challenges of effective governance of the oil, gas and mining sectors in resource-rich countries.

IFI governance

Background

11 October 2017 | Minutes

Civil Society Townhall 2017

Notes and video from the 2017 World Bank and IMF Annual Meetings session of the Civil Society Town Hall, 11 October.

IFI governance

Background

11 October 2017 | Minutes

The challenges of financing infrastructure in developing countries through PPPs: A focus on contracts and laws

Notes from the 2017 World Bank and IMF Annual Meetings session on financing infrastruure in Latin America through PPPs. This session aims to discuss the main challenges pose by the widespread promotion of PPPs and its impacts in particular Latin American cases.

IFI governance

Background

11 October 2017 | Minutes

Funding energy access for the poor: Can the Bank meet the Challenge?

Notes from the 2017 World Bank and IMF Annual Meeting Civil Society Policy Forum session on energy access, 11 October.

IFI governance

Background

10 October 2017 | Minutes

Measuring impact – an overview of IFC’s new approach to measuring development impact

Notes on the IFC's new approach to measuring development impact at the Civil Society Policy Forum 2017, 10 October.

IFI governance

Background

10 November 2016 | Minutes

UK civil society meeting with DFID: Annual meetings and IDA

Notes of a UK CSO meeting with DFID on the annual meetings and the IDA process 23 September 2016.

IFI governance

Background

7 October 2016 | Minutes

Recurring debt crises in sub-Saharan Africa and the rise of bond issuance

Notes from a side event at the IMF/World Bank 2016 annual meetings launching a new report on bonds issuance in Nigeria, Zambia and Ghana, followed by a panel discussion on government bonds as a debt issue.

IFI governance

Background

7 October 2016 | Minutes

The new World Bank environmental and social framework: Opportunities and challenges for implementation

Notes from a side event on implementation of the new World Bank environmental and social framework, which took place during the World Bank-IMF 2016 annual meetings.

IFI governance

Background

6 October 2016 | Minutes

Evaluating citizen engagement in World Bank operations

Notes from a side event on citizen engagement in World Bank operations, which took place during the World Bank-IMF 2016 annual meetings.

IFI governance

Background

6 October 2016 | Minutes

The role of IFIs in assessing the impact of tax incentives and tax competition on inequality

Notes from a side event at the IMF/World Bank 2016 annual meetings exploring the link between tax incentives, reduced revenue mobilization and inequality, as well as addressing tax capacity building efforts.

IFI governance

Background

6 October 2016 | Minutes

Stopping vulture funds through national anti-vulture laws

Notes from a side event at the IMF/World Bank 2016 annual meetings exploring the issue of vulture funds from various angles, as well as possible solutions.

IFI governance

Background

6 October 2016 | Minutes

Equity, inclusion and education: Examining evidence on low-fee private schools

Notes from a side event on privatisation of education and low-fee private schools, which took place during the World Bank-IMF 2016 annual meetings.

IFI governance

Background

17 April 2016 | Minutes

IMF Fiscal Forum - International Taxation: Opportunities & Risks

IFI governance

Background

4 October 2016 | Minutes

Emerging Lessons from Indigenous Peoples’ Cases

Notes from a side event on emerging lessions from indigenous peoples cases of the Inspection Panel, which took place during the World Bank-IMF 2016 annual meetings.

IFI governance

Background

4 October 2016 | Minutes

CSO roundtable with World Bank Group Executive Directors

Notes from a CSO roundtable with World Bank Group Executive Directors at the IMF/World Bank 2016 annual meetings.

IFI governance

Background

17 April 2015 | Minutes

Safeguard policies review

Notes from a meeting on the World Bank safeguards review during the World Bank spring meetings.

IFI governance

Background

17 April 2015 | Minutes

What are the trends in the energy sector?

Notes from a meeting on energy during the World Bank spring meetings.

IFI governance

Background

17 April 2015 | Minutes

Ebola debt relief – Implications and next steps

Notes from a meeting on Ebola during the World Bank spring meetings.

IFI governance

Background

16 April 2015 | Minutes

Development policy financing retrospective: Emerging findings and lessons

Notes from a meeting on the World Bank's Development Policy Finance retrospective during the Word Bank spring meetings.

IFI governance

Background

16 April 2015 | Minutes

Aligning the financial system with sustainable development

Notes from a meeting on the financial system and sustainable development during the World Bank/IMF spring meetings.

IFI governance

Background

11 October 2014

Sovereign debt restructuring: options, obstacles and opportunities

Notes of a meeting on sovereign debt restructuring at the World Bank-IMF annual meetings 2014

IFI governance

Background

11 October 2014

The impact of the BRICS’ Contingent Reserve Arrangement (CRA) and the New Development Bank (NDB)

Notes of a meeting on BRICS’ Contingent Reserve Arrangement (CRA) and the New Development Bank (NDB) at the World Bank-IMF annual meetings 2014

IFI governance

Background

10 October 2014 | Minutes

UK civil society meeting with UK World Bank Executive Director Gwen Hines

Notes of a meeting with World Bank executive director Gwen Hines in October 2014.

IFI governance

Background

10 October 2014

IFC Update on Dinant financing

Notes of an IFC update on Dinant financing at the World Bank-IMF annual meetings 2014

IFI governance

Background

10 October 2014

Discussion with the IFC/MIGA Compliance Advisor Ombudsman (CAO)

Notes of a discussion with the IFC/MIGA Compliance Advisor Ombudsman (CAO) at the World Bank-IMF annual meetings 2014

IFI governance

Background

10 October 2014

From interim strategy to full country partnership: lessons from Myanmar

Notes of a meeting on Myanmar's transition to full country partnership at the World Bank/IMF annual meetings 2014

IFI governance

Background

9 October 2014

Financing for development: What actions are needed on debt and illicit capital flows?

Notes of a meeting on financing for development at the World Bank-IMF annual meetings 2014

IFI governance

Background

9 October 2014

Matching money and expertise: ensuring conflict sensitivity is top of the agenda for the bank's fragile state financing

Notes of a meeting on matching money and expertise at the World Bank-IMF annual meetings 2014

IFI governance

Background

9 October 2014

After SCOTUS: Next steps in sovereign debt restructuring

Notes of a meeting on sovereign debt restructuring after SCOTUS at the World Bank-IMF annual meetings 2014

IFI governance

Background

9 October 2014

IFC lending through financial intermediaries - a year on from the action plan, what have we learned?

Notes of a meeting on IFC lending through financial intermediaries at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Governance and impact report 2014

Notes of a meeting on governance and impact report 2014 at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Comparative analysis of social and environmental safeguards in IFIs

Notes of a meeting on comparative analysis of social and environmental safeguards in IFIs at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Emerging markets in transition: growth prospects and challenges

Notes of a meeting on emerging markets in transition at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Making PPPs work

Notes of a meeting on how to make PPPs work at the World Bank-IMF annual meetings 2014

IFI governance

Background

7 October 2014

CSO roundtable with Executive Directors

Notes of CSO roundtable with Executive Directors at the World Bank-IMF annual meetings 2014

IFI governance

Background

7 October 2014

CSO land rights and resettlement

Notes of a meeting with CSOs on land rights and resettlement at the World Bank-IMF annual meetings 2014

Conditionality

Background

22 April 2014 | Minutes

Reforming IMF conditionality. Where do we stand?

IFI governance

Background

12 April 2014

An overview of the World Bank Group's new country engagement model

Conditionality

Background

12 April 2014

IMF recommendations to Arab countries in transition: Challenges & prospects

Finance

Background

11 April 2014

Financial tremors in developing countries: is another earthquake on the way?

IFI governance

Background

11 April 2014

What does real accountability mean in practice?

IFI governance

Background

9 April 2014

Mega-project mania?

IFI governance

Background

23 January 2014 | Resource

Recommended resources on the World Bank and IMF 2013

The best papers, books and electronic resources on the World Bank and IMF from 2013.

Rights

Background

14 October 2013 | Minutes

Review and update of the World Bank’s safeguard policies

Minutes from a side event with the World Bank safeguards team presenting an update on the review process during the World Bank/IMF annual meetings 2013.

IFI governance

Background

13 October 2013 | Minutes

Meeting president Kim’s pledge of “no dilution” for safeguards

Minutes of a civil society meeting on upward harmonisation of World Bank safeguards during the World Bank/IMF annual meetings 2013.

IFI governance

Background

13 October 2013 | Minutes

Continuing conversations with CAO

Minutes from a CAO sponsored event during the 2013 World Bank/IMF annual meetings.

IFI governance

Background

13 October 2013 | Minutes

World Bank Group strategy and reform process

Minutes from a World Bank sponsored event on the new World Bank Group strategy during the 2013 WB/IMF annual meetings.

IFI governance

Background

13 October 2013 | Minutes

Why the Bank and Fund provide too little debt relief too late – and what can be done about it

Expert panelists discuss the need for comprehensive and automatic debt restructuring mechanisms, at the Annual Meetings 2013 civil society forum

IFI governance

Background

13 October 2013 | Minutes

Is the European recovery finally under way?

CEPR event at the 2013 civil society forum on whether a recovery is under way in Europe; held as a debate between Prakash Loungani of the IMF's research department and Mark Weisbrot, CEPR co-director.

IFI governance

Background

13 October 2013 | Minutes

Subsidy reform in Arab countries: Reflection on IMF recommendations

New America Foundation civil society event on subsidy reform in Arab countries, held in the civil society forum of the 2013 IMF/World Bank annual meetings

IFI governance

Background

12 October 2013 | Minutes

Austerity and Inequality in Europe

Minutes from Oxfam-hosted civil society seminar at 2013 Annual meetings on European austerity and inequality

IFI governance

Background

10 October 2013 | Minutes

IMF consultation: CSO views on fiscal transparency policy

Minutes of an IMF consultation on fiscal transparency policy

IFI governance

Background

25 April 2013 | Minutes

Doing Business at the crossroads: ten years

Spring meetings side event hosted by the Center for Strategic and International Studies on 19 April 2013

Infrastructure

Background

23 April 2013 | Minutes

Colombia case study: results measurement and poverty eradication

This session examined Colombia's private sector partnerships and poverty eradication programme.

IFI governance

Background

23 April 2013 | Minutes

The private sector and poverty eradication

This session gave an overview on the links between private sector and healthcare provision in tackling poverty.

IFI governance

Background

22 April 2013 | Minutes

Bending the arc of poverty

The session focused on the World Bank's development strategy, poverty eradication goals, global inequality, and the threat of climate change.

IFI governance

Background

22 April 2013 | Minutes

Financial and housing crises, the Bank's safeguards and the right to adequate housing

This session featured a presentation from UN special rapporteur on the links between financial and housing crises, safeguards and the right to adequate housing.

IFI governance

Background

22 April 2013 | Minutes

The challenges of advancing sustainability at the World Bank

This panel discussion reflected on the major sustainability challenges facing the World Bank through exploring two World Resources Institute areas - a portfolio analysis on 2012 projects, and the interaction between country systems and World Bank safeguard approaches.

IFI governance

Background

22 April 2013 | Minutes

From the Arab revolutions to global austerity trends

This session examined issues thrown up by the Arab revolutions, including the fiscal, monetary, tax and investment policies being considered by governments facilitating, or hindering countries in the Arab and other regions in building an inclusive economy and supporting socioeconomic recovery, the impact on public expenditure for the strengthening of education, health, and other social sectors as well as the management of chronic and high unemployment and high food and fuel prices.

IFI governance

Background

18 April 2013 | Minutes

After recent court decisions: how can sovereign debt workouts become fair, comprehensive and account

This session examines the challenges which recent court decisions pose to sovereign debt workouts that allow for burden-sharing and take into account the social development needs of debtor countries.

Knowledge

Background

18 April 2013 | Minutes

Frameworks to support IMF policy advice to low-income countries

This event examined financial Sector Surveillance in Low Income Countries - Financial Deepening and Macro-stability Financial Deepening and Macro-Stability

IFI governance

Background

18 February 2013 | Minutes

UK Civil Society Meeting with Minister of State Rt Hon Alan Duncan MP

This was a meeting on 1 October 2012, between the Minister of State of the UK's Department for International Development (DFID) and civil society representatives, focusing on the World Bank.

IFI governance

Background

13 October 2012 | Minutes

World Bank Inspection Panel at 19: Some Lessons for Safeguard Policy

This panel discussion centered on the possible policy lessons for the Safeguard Review of learning from the emblematic or most frequently registered cases of non-compliance with Bank safeguard policies, particularly project supervision, environmental assessment, and involuntary resettlement.

IFI governance

Background

13 October 2012 | Minutes

Think tanks: promoting local solutions, influencing global thinking

This session brought together representatives of three leading policy research organizations from Bangladesh, Tanzania and Ecuador, to share their experiences and analysis of the potential of think tanks to promote local solutions and influence global thinking.

Infrastructure

Background

13 October 2012 | Minutes

Post Fukushima: The Role of the Financial Sector in Energy Future

This session introduced the audience to an overview of global energy issues and specific analyses of the environment and economic impacts of Fukushima nuclear power accident, and discussed the roles of the financial sector in viable global energy future.

Accountability

Background

12 October 2012 | Minutes

Doing business report rankings

This session will bring together experts from labour, development and business organizations to highlight issues and perspectives that need to be part of the review of these influential rankings.

IFI governance

Background

12 October 2012 | Minutes

IMF consultation meeting on engagement with civil society: review and way forward

This session sought to gather CSO views, suggestions, and concerns on how to improve the current guidelines, including IMF consultation processes on policies, strategies, and Article. IV consultations

IFI governance

Background

12 October 2012 | Minutes

Citizen-Led Accountability at the World Bank Group: experiences of independent recourse mechanisms

This session aimed to gather CSO views, suggestions, and concerns on how to improve the current guidelines, including IMF consultation processes on policies, strategies, and Art. IV consultations.

IFI governance

Background

12 October 2012 | Minutes

Facilitating international adjustment through timely debt resolution

This session highlighted the perspectives of finance ministers, policy makers, and academics on the need to ensure timely, effective international adjustment in a manner consistent with sustained global growth and continued adherence to the system of open, dynamic international trade and payments constructed over the past 65 years.

Rights

Background

12 October 2012 | Minutes

World Bank safeguard review and CSOs approaches in their engagement

Interaction between the Bank and CSOs on the approach paper through this panel provided an opportunity for the Bank and CSOs to highlight areas of importance and provide input about the direction of the safeguard review.

IFI governance

Background

11 October 2012 | Minutes

The Role of the Independent Evaluation Group (IEG)

This session provided CSOs with the opportunity to have an exchange with IEG's Director-General and Senior Vice President on the role of the IEG.

IFI governance

Background

11 October 2012 | Minutes

Global financial regulations and their Impact on major campaigns

This event was a collegial information-sharing and strategy session to explore the linkages between financial regulations and grass roots campaigns.

IFI governance

Background

11 October 2012 | Minutes

CSO Townhall with Jim Yong Kim and Christine Lagarde

This townhall was for CSO representatives accredited to the Annual Meetings. The CSO Discussants made initial remarks on Fund and Bank policies and were followed by comments from Mr. Kim and Ms. Lagarde. This was then followed by a general discussion on issues of concern to CSO representatives.

IFI governance

Background

11 October 2012 | Minutes

From country systems to DPLs: understanding the World Bank's approach to social and environmental ri

This session will discuss the strengths and weaknesses of the Bank’s approaches with respect to different financial instruments and evaluate the challenges of ensuring coherence in environmental and social sustainability outcomes across instruments.

IFI governance

Background

10 October 2012 | Minutes

Making global governance accountable: civil society experiences with 13 Institutions

This session discussed the conclusions reached on the global governance role of civil society by the Civil Society and Accountable Global Governance project.

IFI governance

Background

3 August 2012 | Minutes

IFI re-engagement in Burma

Minutes of Burma and IFIs meeting, Washington DC, 18 April 2012

IFI governance

Background

23 April 2012 | Minutes

EIR + 10

Minutes of afternoon sessions of extractives conference, Washington DC, 23 April 2012

IFI governance

Background

23 April 2012 | Minutes

2012 Tokyo Annual Meeting Planning Session

2012 Tokyo Annual Meeting Planning Session held on Saturday, 21 April.

IFI governance

Background

21 April 2012 | Minutes

Lessons from IEG's Cluster Review of IFC-supported Extractive Industries Projects

Minutes of IFC and extractives meeting, Washington DC, 21 April 2012

IFI governance

Background

21 April 2012 | Minutes

Safeguards in a Changing Landscape

Minutes of safeguards meeting, Washington DC, 21 April 2012

Finance

Background

20 April 2012 | Minutes

How can the IMF enhance its focus on growth and poverty reduction in LICS?

A civil society meeting held at the World Bank and the IMF hold their 2012 spring meetings in Washington DC on Friday 20th April.

IFI governance

Background

20 April 2012 | Minutes

Seminar - Time for a New Consensus: Regulating Financial Flows for Stability and Development

As the World Bank and the IMF hold their 2012 spring meetings in Washington DC this week, Latindadd and the Bretton Woods Project organised a seminar about regulating financial flows on Thursday 19 April.

IFI governance

Background

20 April 2012 | Minutes

Austerity in the Eurozone

Seminar at the Spring meetings 2012, 19 April 12

Infrastructure

Background

20 April 2012 | Minutes

Kosovo's options for a sustainable energy future

Minutes of presentation and discussion on Kosovo's options to develop a sustainable energy future, Washington DC, 20 April 2012.

Infrastructure

Background

20 April 2012 | Minutes

World Bank's Climate Investment Funds 4 years later

Minutes of meeting on the World Bank-housed Climate Investment Funds and the Green Climate Fund, Washington DC, 19 April 2012

Land

Background

20 April 2012 | Minutes

Agriculture and Food Security

Minutes of agriculture and food security meeting, Washington DC, 19 April 2012

Infrastructure

Background

20 April 2012 | Minutes

Climate change, energy access and sustainable development

Minutes of climate change and energy access meeting, Washington DC, 18 April 2012

IFI governance

Background

19 April 2012 | Minutes

Supporting Social Accountability for Better Results

Minutes of World Bank Social accountability plenary, Washington DC, 19 April 2012

IFI governance

Background

19 April 2012 | Minutes

Development Policy Lending (DPL) Retrospective consultation

Minutes meeting, Washington DC, 18 April 2012

Environment

Background

19 April 2012 | Minutes

IMF Consultation on Natural Resources Management and Taxation

Notes of meeting, Spring meetings 2012, Washington DC

Infrastructure

Background

26 September 2011 | Minutes

India's energy future: Consequences of India's coal rush and alternative energy scenarios

Notes of a panel discussion, Washington DC, 20 September 2011

Infrastructure

Background

26 September 2011 | Minutes

India's energy future: What role for the Bank?

Notes of meeting, Washington DC, September 21, 2011

Gender

Background

26 September 2011 | Minutes

Civil Society Strategy Meeting on the Doing Business rankings

Notes of a meeting, Washington DC, 21 September 2011

Environment

Background

26 September 2011 | Minutes

CSO Roundtable with Lars Thunel

Notes of a meeting, Washington DC, 21 September 2011

Environment

Background

26 September 2011 | Minutes

Safeguards and climate finance in Indonesia in the context of REDD+

Notes of meeting, Washington DC, September 23, 2011

Gender

Background

23 September 2011 | Minutes

Seminar - Gender Equality Matters: The Way Forward

Notes of meeting, Washington DC, September 21, 2011

IFI governance

Background

23 September 2011 | Minutes

CSO Townhall with Robert Zoellick and Christine Lagarde

Notes of meeting, Washington DC, September 22, 2011

Infrastructure

Background

23 September 2011 | Minutes

Scaling up Climate Finance

Notes of meeting, Washington DC, September 22, 2011

IFI governance

Background

23 September 2011 | Minutes

Financial Transaction Tax implementation

Notes of a meeting, Washington DC, 22 September 2011

Finance

Background

23 September 2011 | Minutes

Real Aid

Notes of a panel discussion, Washington DC, 21 September 2011

Environment

Background

23 September 2011 | Minutes

Plundered nations?

Notes of a meeting, Washington DC, 21 September 2011

IFI governance

Background

18 April 2011 | Minutes

Consultation on Program for Results (P4R)

Notes of meeting, Washington DC, April 16, 2011

Rights

Background

18 April 2011 | Minutes

Safeguards consultation, World Bank, 16 April 2011

Summary of consultation held at the World Bank in Washington, 16 April 2011

IFI governance

Background

18 April 2011 | Minutes

IFC and Financial Intermediary Lending

Notes of meeting, Washington DC, April 15, 2011

IFI governance

Background

15 April 2011 | Minutes

How the Financial Stability Board Affects Development Prospects: Opening the Black Box

Notes of a meeting held in Washington DC, 15 April 2011

Finance

Background

14 April 2011 | Minutes

IFC's international development goals

IFC staff member discusses plans for goals to guide future work in private sector development.

Land

Background

14 April 2011 | Minutes

The regulation of excessive speculation in commodity markets: what's at stake

Financial experts critically discuss commodity speculation.

IFI governance

Background

13 April 2011 | Minutes

IMF triennial surveillance review

Notes of meeting, Washington DC, April 13, 2011

Finance

Background

13 April 2011 | Minutes

Meeting between the UK IMF Executive Director Alex Gibbs, HM Treasury and UK civil society organisat

Notes of the seminar of spring meetings 2011

Environment

Background

12 October 2010 | Minutes

Energy, Poverty, Sustainability and Climate Change

Minutes of a seminar at the 2010 annual meetings, 8 October 2010

IFI governance

Background

12 October 2010 | Minutes

Held in reserve: can a new approach to monetary policy transform the global economic outlook?

Minutes of an experts seminar held on the sidelines of the 2010 Annual Meetings of the IMF, 7 October 2010

IFI governance

Background

12 October 2010 | Minutes

Investment lending reform

A briefing by World Bank staff on the investment lending reform, 9 October 2010

Knowledge

Background

11 October 2010 | Minutes

Post MDG Summit

Notes of the seminar of annual meetings 2010

IFI governance

Background

11 October 2010 | Minutes

Future of the global financial and monetary system

Notes of the seminar of annual meetings 2010

IFI governance

Background

11 October 2010 | Minutes

Global economic governance

Notes of the seminar of annual meetings 2010

Conditionality

Background

8 October 2010 | Minutes

Civil Society Townhall Meeting with Robert Zoellick and Dominique Strauss-Kahn

Notes of the seminar of annual meetings 2010

Knowledge

Background

7 October 2010 | Minutes

Meeting between the UK IMF Executive Director Alex Gibbs , HM Treasury and UK civil society organisa

Notes of the seminar of annual meetings 2010

IFI governance

Background

29 April 2010 | Minutes

Future of the World Bank: major reforms or a series of minor adjustments?

Civil society event at the World Bank spring meetings 2010, 24 April

Infrastructure

Background

26 April 2010 | Minutes

Launch of Bank Information Center's (BIC's) model energy strategy

Civil society event at the World Bank spring meetings 2010, 24 April

IFI governance

Background

26 April 2010 | Minutes

A sustainable World Bank energy strategy: perspectives from various stakeholders

Civil society event at the World Bank spring meetings 2010, 23 April

IFI governance

Background

26 April 2010 | Minutes

Evaluation as a critical tool for accountability

Civil society event at the World Bank spring meetings 2010, 23 April

IFI governance

Background

23 April 2010 | Minutes

An IMF for the 21st century - the low-income country perspective

Civil society event at the World Bank spring meetings 2010, 22 April

Environment

Background

23 April 2010 | Minutes

Financing the response to climate change: special drawing rights (SDRs) for climate finance

Civil society event at the World Bank spring meetings 2010, 22 April

Infrastructure

Background

23 April 2010 | Minutes

Governance challenges in financing green and sustainable energy policies

Freidrich-Ebert-Stiftung event at the World Bank spring meetings 2010, 22 April

Infrastructure

Background

23 April 2010 | Minutes

Roundtable on post-crisis economic recovery

World Bank event at the World Bank spring meetings 2010, 22 April

Environment

Background

23 April 2010 | Minutes

World Bank, climate change and climate finance

Civil society event at the World Bank spring meetings 2010, 22 April

IFI governance

Background

9 October 2009 | Minutes

The IMF and protectionist trade policies: What does the record of the past 15 years tell us?

Seminar on the IEo evluation of IMF trade policy advice in Istanbul, 2 October 2009.

IFI governance

Background

8 October 2009 | Minutes

Financial sector policies in the crisis

Programme of Seminars session in Istanbul on 3 October 2009 with Zeti Aziz, Andrew Crockett, Christine Cummings, Sayed Sadeeq, and John Laker.

Environment

Background

8 October 2009 | Minutes

CSO Townhall meeting

Notes from the CSO townhall meeting with Dominique Strauss-Kahn and Robert Zoellick

IFI governance

Background

8 October 2009 | Minutes

IMF governance - CSO meeting with the IMF managing director

Minutes of a meeting between civil society organisations, IMF managing director Dominique Strauss-Kahn and IMF deputy managing director John Lipsky

Environment

Background

6 October 2009 | Minutes

Consultation meeting on World Bank environmental strategy

Summary of the first consultation on their new environment strategy, which they will develop next year.

IFI governance

Background

5 October 2009 | Minutes

The impact of financial regulation on developing countries

The impact of financial regulation on developing countries, World Bank Programme of Seminars, with Mingkang Liu, Joseph Stiglitz, and Alvir Hoffman.

Conditionality

Background

5 October 2009 | Minutes

The IMF: Change we can believe in?

The IMF: Change we can believe in? Notes of a civil society meeting in Istanbul. Speakers include Joseph Stiglitz, Andrew Kumbatira, Caroline Atkinson, and Bhumika Muchhala.

IFI governance

Background

5 October 2009 | Minutes

Future of the Global Financial System

Notes of part of a panel debate chaired by Martin Wolf of the Financial Times, Istanbul, 4 October 2009.

Finance

Background

4 October 2009 | Minutes

Report launch: Post-crisis growth in developing countries

Growth commission event in Istanbul.

IFI governance

Background

4 October 2009 | Minutes

The UN conference and the G20 summit

Minutes from The UN conference and the G20 summit, civil society policy forum discussion on 3 October 2009. Istanbul, Turkey

IFI governance

Background

4 October 2009 | Minutes

Critical debate on the World Bank and IMF

Summary of a presentation made by Professor Anwar Shaikh, the New School for Social Research, on "Monetary Policy and the Global Crisis"

IFI governance

Background

4 October 2009 | Minutes

Global economic governance roundtable

Summary of a discussion with German government representatives, Jomo KS of the UN and civil society organisations.

Environment

Background

27 April 2009 | Minutes

The World Bank's programs on forests and climate change

A civil society event organised by World Resources Institute (WRI) at the World Bank spring meetings 2009

IFI governance

Background

27 April 2009 | Minutes

Compliance Advisory Ombudsman review of standards for Bank’s private sector lending

Notes of a session with the CAO at the World Bank spring meetings, Washington, DC, April 22, 2009.

IFI governance

Background

25 April 2009 | Minutes

IMF crisis response- discussion

Notes of a meeting between the IMF and civil society organisations

Environment

Background

13 April 2008 | Minutes

Dialogue with NGOs and Lars Thunell, Executive Vice President and CEO, IFC

Dialogue with NGOs and Lars Thunell, Executive Vice President and CEO, IFC

Environment

Background

11 April 2008 | Minutes

Macroeconomic and fiscal implications of climate change and the policies to address it

A briefing by IMF economists at the spring meetings 2008.

IFI governance

Background

11 April 2008 | Minutes

Briefing on the World Bank's Six Strategic Themes

Minutes of a briefing by World Bank staff on the WBG's six strategic themese

Conditionality

Background

11 April 2008 | Minutes

IMF consultation in advance of the PSI review

Notes of a consultation between IMF staff and NGOs in advance of the PSI review

Social services

Background

10 April 2008 | Minutes

Structural conditionalities in the IMF: A discussion between the IMF, IEO, and CSOs

An upcoming civil society report demonstrates that IMF structural conditionality did not decline in the five years after the approval of the Fund's conditionality guidelines in September 2002, which were based on the principles of ownership and criticality in its application of structural conditionality, as well as to streamlining the number of conditions. Going on seven years, it seems that these guidelines have been more honoured in principle than in practice. A recent Independent Evaluation O

Finance

Background

26 October 2007 | Minutes

Macroeconomic aspects of aid scaling up and the role of the Fund

Highlights of a 21 October discussion on the macroeconomics of aid scaling up at the World Bank-IMF annual meetings 2007.

Conditionality

Background

26 October 2007 | Minutes

Wage bill ceilings, fiscal and monetary policies and absorbing aid inflows - updates and next steps

Highlights of a 20 October discussion on the the IMF's fiscal and monetary policy advice and conditionality for low-income countries at the World Bank-IMF annual meetings 2007.

IFI governance

Background

26 October 2007 | Minutes

Rethinking the governance of the IMF

Highlights of a 19 October discussion on the reform of IMF governance at the World Bank-IMF annual meetings 2007.

IFI governance

Background

26 October 2007 | Minutes

The role of low-income countries in IFI governance

Highlights of a 19 October discussion on the role of low-income countries in IMF governance at the World Bank-IMF annual meetings 2007.

Conditionality

Background

26 October 2007 | Minutes

The IMF's Policy Support Instrument: more flexibility or continued belt tightening

Highlights of a 21 October discussion on the IMF's Policy Support Instrument (PSI) at the World Bank-IMF annual meetings 2007.

Environment

Background

23 October 2007 | Minutes

Townhall meeting and reception with World Bank and IMF presidents and civil society representatives

Highlights of an 18 October 'town hall' meeting between WB-IMF heads and CSOs.

Environment

Background

23 October 2007 | Minutes

The agenda of the Development Committee and the provision of Global Public Goods

Highlights of a 20 October meeting hosted by the FES Foundation on global public goods, at the World Bank-IMF annual meetings 2007.

Infrastructure

Background

23 October 2007 | Minutes

Climate change and clean energy challenges and opportunities in addressing Africa's growing energy n

Highlights of a meeting at the World Bank-IMF annual meetings 2007.

Infrastructure

Background

23 October 2007 | Minutes

Low carbon, high hopes: making climate action work for development

Highlights of a 19 October meeting at the World Bank-IMF annual meetings 2007.

Environment

Background

5 October 2007 | Minutes

Highlights of BWI-UK network meeting with Douglas Alexander

Highlights of a 4 October meeting between NGOs in the BWI-UK network and secretary of state for international development, Douglas Alexander, addressing IFI strategic reviews, aid effectiveness, clean energy/climate change and a number of other issues.

Conditionality

Background

27 April 2007 | Minutes

IMF macroeconomic policies and the impacts on education budgets and teacher wages

IMF civil society dialogue, spring meetings 2007 (14 April 2007)

Conditionality

Background

27 April 2007 | Minutes

IEO Evaluation of the IMF and Aid to Sub-Saharan Africa

Civil society dialogue, spring meetings 2007 (12 April 2007) on the IEO Evaluation of the IMF and Aid to Sub-Saharan Africa

IFI governance

Background

27 April 2007 | Minutes

European CSO meeting with European IMF EDs

Incomplete minutes of European CSO meeting with European IMF EDs, 13 April 2007

Conditionality

Background

20 April 2007 | Minutes

Fiscal space and fiscal priorities: Infrastructure, trade and poverty

This panel discussion addressed the pros and cons of fiscal space for infrastructure when infrastructure is trade-related, what they mean for current proposals by the World Bank and IMF on fiscal space, and the importance of an assessment that looks jointly at the trade and financial aspects on the grounds of poverty reduction, development and environment goals.

Conditionality

Background

19 April 2007 | Minutes

Sub-Saharan Africa: Outlook and Challenges

Sub-Saharan Africa: Outlook and Challenges; IMF-civil society dialogue, 13 April 2007

IFI governance

Background

26 October 2006 | Minutes

Highlights of Hilary Benn meeting with UK NGOs

Highlights of semi-annual meeting between UK Secretary of State for International Development and UK NGOs. Topics covered include CSO access to annual meetings, conditionality, anti-corruption, odious debt, clean energy, education in LICUS, bank internal governance, IFC safeguards

IFI governance

Background

26 September 2006 | Minutes

Highlights of Tom Scholar meeting with UK NGOs

Highlights of quarterly meeting between UK executive director to the World Bank and IMF and UK NGOs. Topics covered include CSO access to annual meetings, IMF strategic review, conditionality, anti-corruption and education.

IFI governance

Background

28 June 2006 | Minutes

Highlights of Tom Scholar meeting with UK NGOs, Monday 26 June 2006

Highlights of Tom Scholar meeting with UK NGOs, Monday 26 June 2006

IFI governance

Background

9 May 2006 | Minutes

Policy issues in scaling up of aid flows

Highlights of a spring meetings dialogue hosted by the IMF on scaling-up aid, where senior Fund staff Peter Heller walked out.

Social services

Background

28 April 2006 | Minutes

Evaluating the impact of the PRGF: The cases of Ethiopia, Malawi, Tanzania and Zambia

Highlights of a civil society dialogue on the IMF Poverty Reduction and Growth Facility, at the World Bank spring meetings in Washington, 20 April 2006.

Infrastructure

Background

27 April 2006 | Minutes

World Bank dialogue on the clean energy investment framework

Highlights of a World Bank-organised dialogue on its new clean energy investment framework at the spring meetings in Washington, 24 April 2006.

IFI governance

Background

25 April 2006 | Minutes

Briefing on the implementation of new IFC performance standards

Briefing on the implementation of new IFC performance standards at the World Bank-IMF spring meetings in Washington, 20 April 2006.

Conditionality

Background

25 April 2006 | Minutes

Dialogue on national development strategies and the Millennium Development Goals

Dialogue on national development strategies and the Millennium Development Goals at the World Bank-IMF spring meetings in Washington, 20 April 2006.

Finance

Background

25 April 2006 | Minutes

Dialogue on Fund role in middle-income countries

Dialogue on Fund role in middle-income countries at the World Bank-IMF spring meetings in Washington, Thursday 20 April.

IFI governance

Background

6 October 2004 | Minutes

Grants or Loans? The Full Debate

The session considered the arguments surrounding the provision of grants or loans by IDA. It considered the recent call by President Bush for the World Bank and other development banks to provide more of their funds to the poorest countries as grants, in recognition of the pivotal role that grants play in providing prudent financing for pressing development needs.

IFI governance

Background

4 October 2004 | Minutes

CSO meeting with European Executive Directors

Note from meeting in Washington between European IFI network and European EDs as part of the civil society programme of the World Bank and IMF Annual Meetings 04.

Latest articles on this issue

IFI governance

Analysis

Annual Meetings wrap-up: Kim turns to bankrupt ideas, while IMF tries to undo inequality it doesn't admit it helped cause

BWP's analysis of this year's IMF and World Bank annual meetings; hopeful growth forecasts tampered by medium-term concerns, with US anti-multilateralism finally hitting Bank and Fund.

18 October 2017

IFI governance

Analysis

Development Committee communiqué analysis: Embracing the cascade in response to turbulent times

BWP analysis of the Development Committee Communiqué issued on 14 October, as part of this year's World Bank and IMF Annual Meetings.

18 October 2017

IFI governance

Analysis

IMFC communiqué analysis: Carpe diem, or else…

Analysis of the IMFC communiqué, issued on 14 October, from the 2017 World Bank-IMF annual meetings, Washington DC.

18 October 2017

IFI governance

Analysis

G24 communiqué analysis: “managing the impact of developments in the global economy”

BWP analysis of the G24 communiqué, issued on 12 October, from the 2017 World Bank-IMF annual meetings, Washington DC.

17 October 2017

IFI governance

Background

Great expectations: Is the IMF turning words into action on inequality?

Notes from the 2017 World Bank and IMF Annual Meetings session on the IMF's approach to inequality, 13 October.

13 October 2017 | Minutes

IFI governance

Background

Diagnosing governance challenges in the extractive sector: The Resource Governance Index and beyond

Notes from the 2017 World Bank and IMF Annual Meetings Civil Society Policy Forum session on the challenges of effective governance of the oil, gas and mining sectors in resource-rich countries.

12 October 2017 | Minutes

IFI governance

Background

Civil Society Townhall 2017

Notes and video from the 2017 World Bank and IMF Annual Meetings session of the Civil Society Town Hall, 11 October.

11 October 2017 | Minutes

IFI governance

Background

The challenges of financing infrastructure in developing countries through PPPs: A focus on contracts and laws

Notes from the 2017 World Bank and IMF Annual Meetings session on financing infrastruure in Latin America through PPPs. This session aims to discuss the main challenges pose by the widespread promotion of PPPs and its impacts in particular Latin American cases.

11 October 2017 | Minutes

IFI governance

Background

Funding energy access for the poor: Can the Bank meet the Challenge?

Notes from the 2017 World Bank and IMF Annual Meeting Civil Society Policy Forum session on energy access, 11 October.

11 October 2017 | Minutes

IFI governance

Background

Measuring impact – an overview of IFC’s new approach to measuring development impact

Notes on the IFC's new approach to measuring development impact at the Civil Society Policy Forum 2017, 10 October.

10 October 2017 | Minutes