Finance

News

Wolfowitz to face trials over Bank fundraising drive

2 April 2007

Reeling from a bruising fight with his board over his plans to tackle corruption, Bank president Paul Wolfowitz now must go hat in hand to donor countries asking them to cough up more for poor country financing just as it has been revealed that the Bank has not been able to get the money it already has earmarked for Africa out the door.

Social services

Analysis

The elusive quest for ‘fiscal space’

For the last several years the World Bank and IMF have squared off against governments, NGOs, UN agencies and even each other over the concept of ‘fiscal space’. This often nebulous and ill-defined term has caused much confusion. Nancy Alexander finds that at the heart of the matter is a difference of opinion over how and when governments should be allowed to invest in both infrastructure and basic services.

2 April 2007 | At Issue

Accountability

News

Bank approves anti-corruption strategy: Back to where we started?

In late March, the World Bank board of executive directors approved a heavily revised version of the governance and anti-corruption strategy.

2 April 2007

Finance

Background

The IDA replenishment

Every three years, a series of meetings is held to cajole rich countries into putting money into the coffers of the International Development Association.

2 April 2007 | Inside the institutions

Social services

News

World Bank: private role in water under scrutiny

At this year's World Bank water week, the Bank and water CSOs took a step closer to dialogue; while the contentious role of the private sector in water provision has been highlighted by the withdrawal of Norway from an infrastructure trust fund, a new UNDP-supported report, and pending investment arbitrations.

2 April 2007

Land

News

Human rights trump internal procedures

As the UN human rights council holds its fourth session, the last few months have witnessed dynamic processes on human rights and development finance that bolster arguments to hold international financial institutions accountable under international law.

2 April 2007

Infrastructure

News

More fossil fuels and faith in the private sector

As part of its commitment to solve the global problems of energy poverty and climate change, in late March the World Bank and the European Investment Bank launched the Carbon Fund for Europe. However the Bank’s recent Implementation of the Management Response to the Extractive Industries Review 2006 reveals an alarming rise in its fossil fuel operations and show that little progress has been made on its environment and development indicators.

2 April 2007

Land

News

IFC: Cowboys in the Amazon

In March the IFC approved $90 million towards a $424 million expansion and modernisation programme for Brazil's leading beef and leather processor Bertin Ltda.

2 April 2007

Conditionality

News

Evaluation finds that IMF misleads the public about its role in Africa

A report released by the Independent Evaluation Office (IEO) of the IMF criticises the role of the IMF in managing aid inflows to Sub-Saharan Africa, but fails to address more fundamental questions about the Fund’s role in low-income countries.

2 April 2007

IFI governance

News

Rocking the Fund governance reform boat

While IMF members continue to debate a decision on increasing basic votes and reforming the quota formula, questions are being raised about the approach of IMF management and major shareholders.

2 April 2007

IFI governance

News

Experts call for end to PRGF

An external committee of experts found collaboration between the World Bank and IMF seriously wanting, and recommended that the IMF withdraw from development finance. Taken with an earlier external report on Fund finances, it presents challenges to the Fund’s medium-term strategy.

2 April 2007