Despite making some positive changes, the IMF and World Bank Debt Sustainability Framework review has ignored fundamental issues, as risk of new crises persist.
IMF freezes second payment of $2.8 billion loan to Tunisia, demanding accelerated reform programme despite concerns this will push Tunisia “to the brink”.
An IMF staff blog has acknowledged weaknesses in IMF’s approach to debt sustainability, meanwhile civil society continues to demand human rights-based approach considering who bears burden of debt repayment.
IMF claims it is does not advocate austerity as Greek finance minister accuses IMF of economising with the truth and pushing harmful and counterproductive reforms.
Ghana elected a new president who has pledged to review the country's IMF programme, which was criticised by civil society for its harsh impacts on the poorest.
Mozambique defaults on its debt after IMF freezes loan. IMF reopens discussions on new loan programme but civil society concerned lessons are not learnt.
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.
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.
IMF’s Independent Evaluation Office has found the Fund’s 2010/2011 Troika lending to Greece, Ireland and Portugal fell short in terms of surveillance, design, implementation and decision making, and described controversial decisions as appearing “rubber-stamped”.
As the world economy continues to stutter, many sub-Saharan African countries are turning to the Fund for financial support, though the Funds are coming with strict conditions to restrict spending.