The World Bank’s Inspection Panel received two complaints in December relating to a copper mine in Afghanistan. The mine, funded by two International Development Association (IDA, the Bank’s low-income arm) grants approved in June 2009 and May 2011, is being run by the Afghan Ministry of Mining. The Afghan NGO Alliance for the Restoration of Cultural Heritage drew attention to the project’s negative impact on water and a local archaeological site. Another locally-based complainant raised concerns that “it is impossible for us to obtain basic and important information regarding the implementation of the project”.
World Bank & IMF in the news
The sovereign debt crises threatening states in the Global South are less about fiscal mismanagement and more about monetary power in the global currency hierarchy.