Fight Inequality Alliance meets in Brazil to plan action against current shocking levels of inequality and prepare for World Bank and IMF October Annual meetings in Bali, Indonesia.
Latin America & Caribbean
As Jordan is engulfed in social unrest and political upheaval, questions are raised around the relationship between IMF conditionality and trends in instability.
In prioritising capital market expansion, the needs of the lowest income groups are not being effectively addressed through World Bank interventions.
Bank approves $35 million development policy loan to help Guyana commence offshore drilling, amidst CSO legal challenge to offshore drilling permits
As Argentina agrees to a $50 billion IMF loan, the ghost of loans past lingers, as protests erupt and strikes begin.
The IMF and World Bank-endorsed 20 year spending freeze in Brazil disproportionately impacts women and other marginalised groups, despite less harmful alternatives being available
The World Bank’s report on public spending in Brazil raises serious questions about the methodology used and relevance of the report’s focus on fiscal consolidation in light of its own admission that the deterioration of Brazil’s fiscal situation is due principally to the recession.
Civil society urges the World Bank to scrap DBR and EBA, claiming the latter harms small-scale farmers by putting corporate interests first.
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.
CAO audit finds IFC failed to identify gaps in project’s social and environmental assessment, while communities impacted by the project face impacts on water source, livelihoods and levels of violence.
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.