Bretton Woods Update No.55 March/April 2007

Wolfowitz to face trials over Bank fundraising drive

News|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. read article...

More fossil fuels and faith in the private sector

News|2 April 2007

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. read article...

World Bank: private role in water under scrutiny

News|2 April 2007

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. read article...

IFC: Cowboys in the Amazon

News|2 April 2007

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. read article...

Human rights trump internal procedures

News|2 April 2007

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. read article...

The IDA replenishment

Inside the inst|2 April 2007

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

Experts call for end to PRGF Malan and Crockett reports highlight need for overhaul at the Fund

News|2 April 2007

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. read article...

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

News|2 April 2007

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. read article...

Rocking the Fund governance reform boat

News|2 April 2007

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. read article...

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

News|2 April 2007

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

The elusive quest for ‘fiscal space’ The World Bank, the IMF and the UNDP

by Nancy Alexander

At Issue|2 April 2007

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. read article...