Originally created to help the poor escape poverty and deprivation, the World Bank became the most important advocate for the commercialised microcredit model. Yet, critics argued it undermined the chances of sustainable and equitable development to create a poverty trap of historic proportions.
Latin America & Caribbean
Civil society was out in full force during annual meetings challenging the IMF’s claims that it is reducing economic and gender inequality.
Despite making some positive changes, the IMF and World Bank Debt Sustainability Framework review has ignored fundamental issues, as risk of new crises persist.
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.
BWP briefing explores IMF's labour market policies in the context of women in the informal economy and suggests they will not contribute to decreasing inequalities.
The World Bank continues to push climate and disaster insurance programmes, despite concerns that such schemes are being ‘oversold’ and do not address the root challenges of making countries more resilient to climate change.
BWP briefing explores gender dimensions of IMF’s key fiscal policy advice on expenditure policy in developing countries, focusing in particular on austerity measures.
As the IFC sets out a new strategy, CAO and CSO reports have raised further criticism over its investment in financial intermediaries, and a new law suit challenges its immunity.
In March CAO found a complaint on behalf of communities affected by IFC’s investment in the Alto Maipo hydroelectric project in Chile eligible for further assessment.
The government of Suriname has cancelled its loan programme with the IMF, claiming its conditionalities were too much to bear for its citizens.
CSO ICAR submitted a letter to the World Bank about safeguarding provisions on the use of public and private security personnel. Concerns were raised about the inappropriate use of force and high-risk situations.
Notes from IEG-sponsored citizen's engagement civil society policy forum session - 19 April
Notes of spring meeting session on impact investments, 18 April.
Peruvian CSOs have raised concerns about the development of Peru's Country Partnership Framework in an open letter to the World Bank.
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.
Civil society responds to World Bank president Jim Yong Kim statement on human rights abuses and displacement by calls for the World Bank to suspend funding to Honduras amid continued human rights concerns.