Spring Meetings conclude with frantic calls for stronger multilateralism, but few advances in key issues such as Covid-19 unequal recovery, debt, inequality and climate crises, while Russia participation prevents G20, G24 and Development Committee from releasing a communique.
While the strategy's first concept note outlines an ambitious vision to mainstream gender across the Fund’s core operations, civil society emphasises that a deeper analysis of on the effects of Fund-endorsed policies on women’s rights is still missing.
The Fund's expansion of its work into the macro-stability challenges posed by pandemics, climate change, gender discrimination and inequality increases the risks that it may negatively impact communities and individuals.
The IFC is the only DFI that has committed to creating a remedy framework. The basic requirements of a rights-based remedy framework are already known.
Problematic track record on climate and fossil fuel finance means IMF-World Bank collaboration on the Resilience and Sustainability Trust risks repetition of failed policies.
Debt Justice's new report highlights urgent need for international debt workout mechanisms, as countries are forced to prioritise debt payments.
A November 2021 report by the Center for Human Rights and Global Justice at New York University highlights the human rights consequences of the World Bank’s Maximising Finance for Development approach.
Independent Evaluation Group report highlighted private sector education provision can exacerbate inequality and undermine the public sector school system.
Pakistan increases fuel prices in effort to meet IMF conditions, while cost of importing LNG surges.
World Bank’s IFC $200 loan for large-scale agricultural production in Brazil disregards serious human rights and environmental concerns, despite calls by 200 civil society organisations globally
Fresh $456m IMF loan to Mozambique risks adding to insecurity and debt crisis as LNG projects have fuelled conflict and likely to become stranded assets.
More than 140 CSO groups and individuals call on the World Bank to focus on grappling with the harms caused by its undemocratic governance structure and biased publications like the Doing Business Report, and to take measures to decolonise the institution.
EarthRights International examines how the Jam v. IFC case has helped to shift the landscape of accountability for international financial institutions by successfully challenging their claim to “absolute” immunity in US courts, potentially opening IFC up to further legal challenges in future.
