The IMF is still hoping to rally various interested parties to its proposal of a mechanism to restructure poor countries debt (see Bretton Woods Update 32). After a conference held in Washington DC to discuss the latest proposal, some civil society representatives said in its current state the mechanism “would not return poor, indebted nations to viability/sustainability” and would “enshrine an increased role for the IMF in international law”. Opposition from the private sector and some Northern and Southern countries had previously led the Fund to water down the plan – leading some observers to pronounce it ‘dead in the water’.
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The Bretton Woods Project is a UK-based NGO that challenges the World Bank and IMF and promotes alternative approaches. We serve as an information provider, watchdog, networker and advocate. Our flagship publications are the Bretton Woods Observer, a quarterly critical review of developments at the World Bank and IMF, the Dispatch, a biannual analysis of the World Bank and IMF Spring and Annual Meetings, and the NewsLens, a bi-weekly roundup of key news and critical viewpoints published about the World Bank and IMF.
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