Officials and development groups have criticised the failure of the World Bank and developed countries to deliver financial aid promised to Southern Sudan. Of $2 billion pledged in 2005, only $500 million has been disbursed. The director of the regional planning ministry appealed to the donor countries, stating, “We are very frustrated. We feel we are trying to build a country from scratch, but we are being kept at square one.” He argues that the development process has been undermined by the complexity of rules imposed by the Bank which stem from a fundamental lack of understanding of the local context.
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.