IMF senior staff blog about the IMF’s controversial approach to debt sustainability, but their approach continues to disproportionately burden countries with repayment while bailing out private lenders and speculators.
East Asia & Pacific
New report provides evidence that IFC investments in financial intermediaries (FIs) support the construction of coal power plants in contradiction to World Bank policy and IFC statements that FI lending is ring-fenced and does not support coal.
A revised Clean Technology Fund (CTF) pipeline management and cancellation policy has been approved. A document outlining further details on the proposed “CTF 2.0” will be discussed. Approval for reallocation of funds for a Morocco project was challenged by Germany and the decision postponed.
Pipeline management and cancellation policies are in preparation for the Pilot Program for Climate Resilience (PPCR) to address funding constraints, with no funding available for new pilot countries’ projects. Questions were raised about gender impacts for a renewable energy project in Mozambique.
Challenges in measuring progress were noted for the Forest Investment Program (FIP), in particular greenhouse gas accounting. Investment plans for Mozambique and Ivory Coast have been approved. Questions were raised over the reasoning for a commercial teak plantation project in Ghana.
A new a new Enhanced Private Sector Program for the Scaling up Renewable Energy Program in Low Income Countries (SREP) is due to discussed. Cambodia’s investment plan has been approved. Social, environmental and financial risks related to a Nicaragua geothermal project were raised.
New edition of the Bretton Woods Project's biannual Climate Investment Funds (CIFs) Monitor, including an update on the Green Climate Fund, published to coincide with the World Bank-hosted CIFs trust fund committee meetings.
The World Bank is set to reappoint president Jim Yong Kim for another five year term, despite persistent concerns from Bank staff and renewed calls for a merit-based process based on principles of transparency and diversity.
ICSID, a World Bank arm for investor-state dispute arbitration, ruled that the $250 million case brought by Pac Rim Cayman against El Salvador in 2009 was without merit.
Notes from a side event at the IMF/World Bank 2016 annual meetings on the role of management in ensuring development banks responds appropriately to community complaints.
A US Congresswoman has called for an end to the World Bank’s investments in water privatisation until a robust evaluation has taken place.
The World Bank has signed a co-financing agreement with the Asian Infrastructure Investment Bank, while former Bank staff join the new institution.
The Inspection Panel has deferred a decision to investigate a complaint regarding environmental, social and economic damage related to a World Bank funded mining project in Mongolia.
Evictees and affected families of Cambodia's Boeng Kak and Borei Keila neighborhoods have called on the World Bank to leave Cambodia, as lending programme resumes.
The best books and papers on the World Bank and IMF from 2015.
Every year the Bretton Woods Project highlights some of the most farcical remarks of Fund and Bank staff.