MICs are defined by the World Bank as having: “1. Similar incomes (by definition between $3,036 and 9,385 per capita); 2. Better Policies (but not consistently so); 3. Better institutions (but not all); 4. Better access to external finance (but only 22 out of 69 were investment grade and another 20 had volatile access); 5. Alternatives to the Bank for funds and advice; a test of the Bank’s value added.” From WB Conference on Effectiveness of Policies and Reforms: 4/10/2004
World Bank & IMF in the news
This briefing explains how the IMF and World Bank have driven the financialisation of MENA states, and the pervasive negative effects this has had on the region’s societies and economies.
Joint civil society briefing paper highlights concerns with the World Bank’s Evolution Roadmap, and provides a series of recommendations for a Roadmap that prioritises people, participation and the planet over profit and economic growth.