IFI governance

News

BRICS challenge IFIs

8 April 2013

Large middle-income countries jointly initiated alternatives to the World Bank and IMF in March, but advocates are not satisfied with either set of institutions. While challenge to the IMF has been welcomed, civil society actors fear that a new development bank would serve "vested interests" and could lead to "exploitation".

Environment

Commentary

Dr Kim, where is Mongolia's economic diversification?

In late February the World Bank's private sector arm, the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) boards decided to spearhead a $4 billion dollar syndicated loan to a copper, gold and silver mine located in the Gobi Desert in Mongolia. An increasing number of people believe that it is going to lead Mongolia to dependence on one product and one corporation, driving the country into deep insecurity.

8 April 2013 | Comment

Finance

Commentary

Cyprus - whose crisis?

The economic crisis in Cyprus erupted during the second cycle of the European recession of 2011 as a result of harsh austerity policies imposed since 2010 in Europe. It is a new crisis born of a failed response to the original European crisis.

28 March 2013 | Comment

Land

News

India complains Doing Business "not robust"

As an independent panel begun its review of the World Bank’s controversial Doing Business rankings, India’s public criticism of the rankings added weight to global governmental and civil society opposition.

8 April 2013

IFI governance

Background

World Bank staff incentives

The World Bank Group's staff incentives and compensation schemes are considered important drivers of the Bank institution's successes and failures.

8 April 2013 | Inside the institutions

Conditionality

News

Democracy: "an enemy to the IMF"?

The legitimacy of IMF engagement with Middle East and North African nations and eurozone crisis countries continues to be heavily criticised.

8 April 2013

Finance

News

IDA 17: Back to big infrastructure, flirting with climate finance

While donors and the World Bank focus on IDA structural reform, the proposed IDA shift towards financing infrastructure and climate adaptation raises concerns over development impacts.

8 April 2013

IFI governance

News

US deadlock stalls IMF governance reform

The IMF governance debate goes beyond the mathematics of voting shares and representation, bringing to the fore critical questions about the Fund's legitimacy.

8 April 2013

Knowledge

News

New World Bank strategy accused of being "unambitious" and "cosmetic"

World Bank president Jim Yong Kim's new overarching strategy on ending absolute poverty and creating shared prosperity elicits criticism for ineffectively tackling inequality and sustainability.

8 April 2013

Rights

News

Safeguards: World Bank urged to incorporate human rights commitments "in all of its activities"

As the consultations on the World Bank's safeguards review progress, indigenous peoples groups and NGOs raised concerns over the process. There were also increased calls for the Bank to respect human rights in its policies, including a report from a UN Special Rapporteur.

8 April 2013

Environment

News

Carbon capture

The World Bank has revealed details of its new climate change strategy, including promotion of carbon markets despite concerns from indigenous groups. While new conversations about the Bank's energy investments are anticipated, further criticisms were made over its involvement in fossil fuels and hydropower projects

8 April 2013

Finance

News

G20 working on international financial architecture, while the IMF "to bury its head in the sand"?

The G20's agenda on the international financial architecture looks to tackle sovereign defaults, but not 'currency wars'.

8 April 2013

Accountability

News

IFC Honduran client linked to death squads

The International Finance Corporation (IFC, the Bank's private sector arm) loan to Honduran palm oil producer Corporaci

8 April 2013