IFI governance

Background

An Evolution Roadmap responsive to development crises? Towards an external evaluation of the World Bank’s cascade

11 November 2023 | Minutes

Moderator:

  • Jon Sward, Bretton Woods Project

Panelists:

  • Maria Jose Romero, European Network on Debt and Development
  • Luiz Vieira, Bretton Woods Project
  • Kamal Ramburuth, Institute for Economic Justice

 

Jon: Despite several attempts and numerous invitations, we have been unable to get the Bank’s participation. This is quite disappointing given the importance of the Evolution discussion currently happening.

Some of you may be wondering what’s the cascade of what we speak. According to the World Bank’s 2016 document this is explained as followed: In order to maximise the scarcity of public resources the cascade seeks to mobilise commercial finance, enabled by unstreamed reforms where necessary. To address market failures and other constraints to private sector investment at country and sectorial levels where risks remain high the priority will be to apply guarantees and risk sharing in the instruments. Only where market solutions are not possible through sectorial reforms and risk mitigation will official and public resources be applied.

In our view the Evolution Roadmap double down these efforts to incentivise private finance in the development space. There’s long research that proves this approach may be unsuitable for many of these countries, especially with regards to development initiatives that would benefit the poor.

It’s clear in the Roadmap documents and recent discussions that this includes a potential expanding role for international financial corporations or IFC and MIGA, and derisking private sector investments in developing countries as well as renewed efforts to create markets and build investable projects pipelines.

There is plenty of evidence to explain that World Bank recent support to PPPs has negative development or physical impact by excluding many people through unequal access, affordability and distribution. The concerns that the Bank’s approach assumes that incentivising private finance fails to acknowledge that the type of projects designed to attract profit-seeking private investors to generate quick returns, may not match the public interest and national or local priorities, or indeed support green economic transformation in Bank client countries.

While we feel the private sector can and must play a key role in resolving global challenges, we feel this tension is unresolved in the recent Development Committee paper.

What we heard in the Roadmap Forum yesterday is that the Bank is seeking to pursue this approach further.

As part of the consultation process for the Evolution, 76 groups and individuals called for the Bank to commission an external and independent review of the WBG development effectiveness as part of the Evolution Roadmap, including a dedicated analysis of the development effectiveness of Bank’s programs to today, and its promotion of the Cascade and PPPs in an open process with academics, CSOs and grassroots organisation, particularly from the Global South.

Maria Jose: My remarks are the results of work we’ve done to critically analyse the Evolution Roadmap process and its focus. We have engaged in the process since the very beginning, using the opportunities, dialogues and the consultation process.

The main message we would like to send today is that in our perspective the Evolution Roadmap is about reinforcing deepening strategies that were already in place and not about the fundamental reforms that need to happen to address the development and climate crisis from the right perspective, and ultimately to make the Bank fit for purpose.

The central driver of the Bank’s approach places the private sector as key promoter of development and a key provider of finance, mainly through financial engineering and centers the Bank as a facilitator of private capital mobilisation, an approach that has failed. It has not provided the trillion of finances promised years ago. It was redoubled in 2017. Now the WB comes with the same approach.

I want to make a strong call for putting the public at the core of WB’s effort to support global public goods.

First, it is very welcomed to see that in the latest version the Bank is thinking about a new vision for its work, with references to global public goods, incorporating climate consideration and sense of urgency, which is also welcomed. But there’re concerns with the approach to actually deliver on this mission and vision:

  1. There’re not mentions of governance reform in the Evolution Roadmap. The Bank is governed in an undemocratic way. One chair represents more than 22 countries. This roadmap is far from being transformative, in practice, it does not address the sources of the problems that developing countries are now facing, and that are part of this inequal international financial architecture.
  2. There are no references to the debt crisis and the role the Bank is going to play to support countries to deal with the current debt crisis.
  3. There’s no concrete commitment to phasing out support for fossil fuels. We heard yesterday that this is not part of the main messages.

In the last version there are key changes in language: It does not mention the word cascade or the maximising finance for development. The language has changed but, in essence, it still presents strong focus in that direction. Leveraging private sector finance is embedded in the roadmap. For instance, it is the most operationalised part of the roadmap. Private investment is part of the new scorecard. The WB is going to measure its operations according to the amount of money they mobilise (increasing finance as a success as part of the scorecard). No new money is at the table from the shareholders at this point.

The launch of the Private Sector Investment Lab, which places the Bank at the center of global capital mobilisation is another example of all this. The Bank’s push for leveraging finance for development shows the failure of the Bank’s shareholders to ensure a more equitable international financial architecture. The continuation of the private finance push is a continuation of a delusion that we can solve the current global problems without mobilising additional resources.

Banga mentioned in the town hall that we cannot rely on public finance, but we need to push back on that.

For instance, regarding illicit finance flows, countries are losing millions due to this and practices by international financial corporations that allow them not to pay taxes where they operate.

Rather than an evolution the private finance promotion shows the focus of the WB in a flawed development paradigm that assumes that incentivising private sector investments is inherently a positive solution.

We identified several risks, including the risk of creating unsustainable debt or increasing debt crisis risks, but also the fact of having social services in the hands of private providers. Research shows that many World Bank projects private sector-led have proven detrimental to provision of education and health. We are concerned these solutions are still on the table and part of the Evolution the Bank is suggesting.

We welcomed IFC divestment from for-profit school chain Bridge, but practices like this (divesting) are not present in the Evolution. There’s a need to consider what is the Bank’s approach on services provision.

2 key recommendations from us:

  1. Related to the process: As the Bank argues it’s very well placed to address the climate crisis it should acknowledge the role and responsibility it has played in the current climate crisis. It’s unacceptable there’s no willingness in the Bank for an external independent review that provides robust analysis and evidence of the impact of Bank’s policies and practices on the ground. We’ve been calling or this external review.
  2. Related to substance: We call on the Bank to put the public at the core of its effort to support global public goods. Private sector can and must play an important role in the transformation of economy, but this has to be guided by public policies and an active role of the state in regulating in the public interest.

We need to remove the private profit as essential to the delivery of public services and make sure private is not at the core of the Bank’s evolution roadmap. We need to emphasise that PPPs and blended finance do not be involved in basic social services, including health and education. This needs to be explicitly outlined in the roadmap. We really need to remove the profit driver as the central motive for the design and deliver of basic public goods (water, transport, sanitation, etc).

It’s imperative that the Roadmap is reviewed and that financial engineering is not at the core of practises that will guide the role of the Bank in the future.

Jon: Luiz is going to speak a bit more about the knowledge Bank component of this and how that related to a call for an independent evaluation.

Luiz: When Axel van Trotsenburg spoke yesterday at the Roadmap Forum he spoke in many occasions on the fact that this is a knowledge Bank.

The World Bank now recognises there’s a crisis of development. However, they intend to explain this crisis in terms of exogenous shocks, like the pandemic, the war in Ukraine, etc. There’s a vast amount of literature out there showing a very different argument. For instance, showing that the current crisis predates the time of Covid.

We have the highest levels of inequality in centuries, rivalling the levels of inequality in the 19th century, before the industrial revolution. We have all the trends towards increased social political instability and yet the Bank has been focusing the discussion on how proud they are to be focused on outcomes, and that the scorecard will be streamlined.

The question that comes to mind is then, what were they doing prior to this? How do you decide what has and hasn’t worked?

The UNCTAD Commodity Report shows that commodity dependency has not improved, it has actually exacerbated.

There is a contradiction in the documents. The Bank says they have been pivotal in acting in development, but then they say there’s a crisis of development. So I wonder, where is the knowledge base for this? The Bank has not substantiated the proposed approach with any literature review or any evidence that proves the approach they’re trying to embed is right.

This is the main reason why we’re calling for an independent evaluation. By an independent evaluation we mean independent from the Bank, perhaps sitting within the UN and composed by experts, CSOs … that could really provide us with a benchmark.

We are not anti-private sector, we just think the private sector has a very specific role to play. The private sector has a very specific incentive, profit, and we think the private sector is not a developmental actor. Private sector is not going to focus on development, they would always look for economic benefit. For instance, why is the private sector doing ESG? Because there’s economic benefit to it.

This drive for private sector development and the idea that there’s not enough public money is misleading.

What must be done to attract this private investment? The idea of derisking, it’s not actually that, it’s shifting the risk from one actor to the other. Countries provide companies with their special economic zones, in which their own laws do not apply. You’re eroding state sovereignty to attract investment. On the other side, you have bilateral trade agreements. Countries are forced to sign agreements that allow private sector – these development actors – to sue them when they legislate in the public interest, taking this money away from public expenditure (like education and health).

It’s not an ideological debate, as Maria Jose said.

Another troubling aspect is that the Bank is also very focused on what they called streamlining process. I had a discussion a while ago when a person from the Bank mentioned that they need to streamline process to get the money out the door quicker. There are processes that cannot be streamlined. For instance: We feel accountability mechanisms are under thread just for the sake of rushing. Accountability processes take time.

Another request to the Bank is about development effectiveness. The Bank does not have a human rights mandate. When they talk about development impact, in many parts of the World Bank development impact, one of the development criteria is how much private sector investment has been leveraged, which is problematic, as it implies that private sector involvement implies development outcomes. Give the levels of inequality the idea to use GDP indicators and such as guide is problematic. It’s time for the World Bank at the 75th anniversary of the Universal Declaration of Human Rights that they join the UN system and embed human rights in their structure and develop a human rights policy that underpins all its activities and the ex-ante impact assessment of its development impact.

Jon: Turning to a more general discussion and wider discussion to a more grounded country example. Kamal is going to explain a bit more on the just economic transition, and the role the World Bank is playing within that and how it relates to the discussion on private sector derisking we’ve been having.

Kamal: The Global South are all asking for JETPs deals. They are hugely problematic as they adopt the cascade approach. It is a way to derisking the private sector. As it has been mentioned before, there is not such thing as derisking, they are international partnerships with big Global North countries that are taking the risk from all these investments and shifting it to small development countries. We’re concerned because, one, it’s not going to be just, and two, it’s not going to lead to development.

The WB is playing a role in this JETP for two reasons:

  1. Because they’re taking this approach to derisking.
  2. Because development banks, including the WB, are being used to channel the bilateral finance from the Global North countries.

Looking at the case of South Africa.

JETPs are mostly loans, not even at concessional rates. We do not know the rate, if anyone knows, please let us know. In my country no one is telling us. If there’s anything just about this deal is not the rates, it’s definitely not the fact that risks are shifted from the Global North countries that struck this the deal with South Africa.

The power relation between these countries is actually quite related to the power relations happening now on the debt issue in African countries.

The derisking approach is highly problematic for reasons like:

  • Blended finance: Mixing of concessional and market rates, but again, we do not know how much what concessional rates these are. More debt into a debt crisis that Africa is already facing.
  • Demand guarantees: They are very problematic because the price of renewal energy production is decreasing quite rapidly. We risk using an approach that will lock us into something we will not be able to pay in a few years from now.
  • Contracts locking: They are not countries signed between states and legal entities. They are not South African contracts. Even while South African contracts are difficult to renegotiate itself, these need to be arbitrated in international arbitration processes, with laws that aren’t even ours. There’s a huge question here about what’s the social contract is between the states.

Will the JETP be “just”?

JETPs are not going to be just because they’re de risking, because most is loans and because they’re negotiated in foreign currency, which makes them more expensive (as strong currency are protected by the Fund, and given that as countries sore in debt their currency devaluates), and on the grant concepts – only 4 per cent of these deals are grant, and all goes into knowledge goods.

The most disturbing part about the JETP is that it will not lead to development. Only 1 per cent of what has been channelled it will be for diversification and go to the development of manufacturing of goods (such as solar, etc). Less than 1 per cent goes to skills development. Less than 1 per cent goes to diversification of our economies.

Without all this JETP is unlikely to be just. JETPs will be a transition without justice and will be death without our development.

 

Questions and answers

Tim, BU Global Development Policy Center: 2 critics at play: 1. WB ideological attachment to market approach solutions and, 2. to major Bank shareholders (such as private finance as the way for big shareholders not to need to put on more money) and to what extent taking out private finance is a convenient way to say that there will be money for investment without putting out new public money or tax reforms that could bring more public money. I would like to hear whether you think that’s a clear distinction and whether our advocacy strategies will need to differentiate to tackle these two different issues.

Luiz: This takes us to the topic of transformation of the economic system. They’re interrelated. Governance in the WB is very skewed and favours the Global North. For a long time, not so much now, the “knowledge bank” was staffed by people from Global North. There is this ideological issue in the Bank. It’s impossible to understand what’s happening without understanding the financialisaton of the global economy. The Global North is generating less profits, it’s all about speculation. It has become more profitable to invest in real state than in industrial production, for example. The idea is to create assets classes, to securitise these assets that are then going to be traded in financial markets. You hollow up the state and you provide opportunities for the private to invest. You cannot understand this without understanding inequality.

Maria Jose: There’s a distinction there to be made. When it comes to the critic of wealthy WB shareholders and putting the emphasis on using the Bank to leverage private finance instead to deliver on their commitments, here our call is: First and foremost, developed countries need to honour their 0,7 commitment on official development assistance. They are doing half of what they should be doing. The quality of ODI is decreasing, because some of these are being used to subsidise private investment. Problem number 2, climate finance. They should be asking the Bank to deliver on their climate finance. Regarding the role of the Bank, they should be looking at the Bank as an instrument to help developing countries with strategies that are not private sector led. When it comes to IDA21 replenishment: IDA private sector window is being used to leverage private sector resources in low-income countries.

There’re many talks about a bigger Bank and a better Bank. A better bank does not necessarily mean a bigger Bank – a better means a more accountable, more transparent, better governed. There’re lots of talks about what’s coming but we do not see many changes. Many groups are calling for a new Bretton Woods Institutions, but this is not what we see nowadays. There are no bigger changes.

We want an approach that talks about better access to public services.

Kamal: I think to a logic state the BWIs are institutions with large shareholders, and those are the ones that would direct them. There’s large responsibility there and the market-led approach in an inequal global development affect certain countries through the extraction of resources from the developing world (cheap materials, for example). The international financial architecture serves these big shareholders within the Bank and the Fund. There’s causality there. There is still huge need for development finance at low interest rates. We still need finance, it’s super important.

Representative from the Center for Economic and Social Rights: Thank you for coordinating this civil society submission on the Roadmap. In relation to the submission, CSOs demands were completely ignored by the Bank. Also WBG & IMF have received lots of recommendation from UN human rights experts and trade bodies for many years. None of them have been taking by the Bank and none of them have even been questioned. Additionally, this continuous narrative we’ve been hearing, also from Banga, that the money is not there and the only way you can get it is by somehow seduce the private sector to take that money, and that anyone who questions that is told that we do not understand. What do you think about these answers we keep getting from the Bank?

Kamal: Just to mention the fact that there’re allocative green credit policies that national governments can undertake. At the same time the Bank was imposing SAPs on the Global South the Asian tigers were developing, and the strategy was to have interest rates below the growth rates. The states in these countries intervened as much as they could to reduce these interest rates and they did it in a number of ways. Like indirect allocated policies, which kind of favours certain sectors and consciously offered certain sectors that wanted to industrialise favourable terms. We could do the same for the ecology transition.

Senior advisor to one of World Bank board members (speaking in personal capacity): I agree that private sector is motivated by making more money. If we are arguing for more public money, we’re actually implying more taxes for the people in these poor countries. How realistic is that expectation? It is extremely important to stop illicit financial flows. The World Bank cannot stop IFF by itself. How can IFF be controlled without controlling intermediate and destination countries? Do you have any thoughts? Is there any work being done on this? Are there any specific recommendations?

Luiz: I do not agree with your premises on taxes. There are many ways to raise taxation and increase income without targeting the poor. Instead of taxing income, why do we not tax wealth? Why are we not working on transaction taxes eliminating part of the problem that countries suffer, eliminating capital outflows, for example? There’re many ways to restructure the tax system.

Maria Jose: Discussions about a UN tax convention, with growing support from developing countries, particularly from African countries, where illicit financial flows can be addressed. It’s about a tax system that is progressive, taxing the wealth and the rich but also about having a UN and neutral space to talk about tax. Now  discussions on taxes are happening between rich countries clubs. We hope to have a discussion at the UN level, perhaps in a FfD4 about the reform of the current financial architecture.

Kamal: A human rights approach is very important to guide what the Bank is doing. There’s a correlation between the SDGs and human rights. They are very much aligned and human rights is something very basic, something that the Bank should never undermine.

Daniel Willis, Recourse: We see that these are not only investments that go to the private sector, they also hold decision making responsibility. We see a huge amount of problems in the investments we look at. We’re seeing in energy and climate related investments is that in many cases where IFC started to move away from coal, fossil, clients, it is still working with the same partners or commercial banks. Trying to change the narrative but supposedly taking the money for green projects but on the other side they are also still funding the core of the problem. There is a huge need to still track all this finance and make sure it’s accountable and look where the money is flowing.

We heard a lot this week about the need for a better, stronger, bigger bank. What are some of the methods we can take to make sure the Bank is accountable to make sure affected communities are not casted aside by the need for faster investment. How do we protect the effectiveness of engagement?

Kamal: Social movements in countries have a big role to play in their local legislation. Example: Two years ago in Argentina, Martin Guzman passed a law that requires all IMF loans to be approved by Congress to be able to have a previous analysis to see how these affect human rights, women rights, how can these after sustainability… and once this is presented to Parliament, the parliament decides. In international financial architecture it is hard to take things into account.

Luiz: I think a human rights policy could be the framing of better enabling projects to address the impact in communities as well as better transparency, via for example, parliamentary oversight.

Emma Burgisser (Christian Aid): How you see the Bank’s spreading and influencing their thinking to the rest of development finance world like MDBs, other regional Development Banks and how far we see this rhetoric and approach going… The Fund has not gotten until very recently to the same type of approach, but now we see that in the RST.  Wondering if you could explain how this is spreading beyond the Bank.

Kamal: they influence others quite heavily. Even though there’s a new lending explosion from other institutions like the Asian Development Bank, or the New Development Bank. Even when they say that they are different in the type of lending they facilitate, etc. if you look for example at the staff, there’s lots of exchange and they collaborate in many projects. In the rhetorical of the NDB for example they’re starting to talk more and more about private sector leverage.

Maria Jose: the Bank has been playing this leadership role for quite some time. Other development financial institutions, like the EU Development Bank, are following the same model and using the same resources.

Subsidising private sector investment through technical assistance, protection of loans and guarantees and other solutions are not per-se a bad thing. We are not against subsidising private investment. But we are red flagging that the scale of the approach and the projects for what the private sector is being incentivised, using Global North based companies or not even being driven or at the service of a development strategy that is accountable to the local groups. It’s fair to ask subsidising private sector under what conditions? Who’s in the driver’s seat? Who’s under this type of private provision? It’s not about the technique itself, it’s about how this is being approached. In some settings we are also opening new discussions on what sustainable infrastructure policy means. It’s not a bad thing promoting infrastructure projects, but promoting them from the mine to the port, that is at the service of subtraction of natural resources is very problematic.

Luiz: Regarding staff incentives that’s something also that’s been left aside the roadmap discussion. There’s this big push for MDBs to work more closely together. If there’s a FfD4 conference I think the shareholders will want to have the MDBs sharing the same voice at the UN.

Rodolfo Lahoy (IBON): Unfortunate there are no colleagues from Bank here. I think the Bank is one of the most ideological actors out there. Along the way this is all about what the model of the Bank is, and the economic assumptions being made here. Refusal to engage and acknowledge responsibility for climate crisis for example is frustrating organisations in the Global South. It refuses to even recognise that t hare are systematically harms happening, to begin with. This is why one of the question from the Global South is whether the Bank is fit for purpose and will be able to deliver development in the future. Where do you think is the stress when it comes to tactics these days? I know we all know there’s nothing new in the Bank’s reform. There are two strands here: One asking for the Bank to really focus on what’s needed to be better instead of what it’s saying and the other parallel tactic saying that the Bank needs to first acknowledge what its responsibility is for the crisis we are all are in. Between these two parallels, do you think there should be stress on one over the other? or should they be equal as we move forward? Shall we try to push for a better Bank or shall we focus on historical accountability?

Maria Jose: I do not see very evident dilemma in our tactics because I think there’s not hope of getting any better without addressing the problems from the past.

Luiz: I agree with Maria Jose that we should work with both simultaneously.

Pranita (Action Aid): Regarding tactics. There’s a blame game happening between IMF and WB and then blaming governments for things don’t working. In a session today with Ajay they said 2 things: Countries need more knowledge than resources (countries do not know the solution so the Bank needs to come in and show them); the second was that governments need to create an enabling environment and then exit. Has the panel heard anything that would give us hope in terms of tactics moving forward? Where do we go from here?

Luiz: It’s becoming more difficult to make the shareholders to support the current system. There are many regional banks, some of them created by governments frustrated with the Bank, but they all use the same model. The North versus South is still very present, but we also have elites that work in a global level. We have a multilateral system that works with states, but there are very influential power non-state actors that also have power to influence states and multilateral system. We need a deeper analysis. The new banks’ development model do not show a drastic departure from the Bank’s model.

Jon: I think the general point of stress is that after years of discussions within the Bank and the evolution discussion, there are a variety of feelings about where we are but it’s fair to say that this is not a transformation and lots of shareholders are feeling that and fearing that this is not leading to transformational change. There is a new mission and vision, but the inability to change leaves the institution a bit vulnerable in term of being able to change at the moment.

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Background

12 April 2022

The WBG's investments in private healthcare provision: What implications for the right to health?

Notes from civil society policy forum on 12 April on the WBG's investments in private healthcare provision: What implications for the right to health?

IFI governance

Background

11 April 2022 | Minutes

MISSING RECEIPTS: How did DFIs’ covid-19 response affect human and environmental rights during the pandemic?

Notes from Civil Society Policy Forum event on April 11, 2022, on: "MISSING RECEIPTS: How did DFIs’ COVID-19 Response Affect Human and Environmental Rights during the Pandemic?"

IFI governance

Background

8 April 2022 | Minutes

Did pandemic spending go towards a Feminist People’s Recovery in Africa and Latin America?

Notes from Civil Society Policy Forum event on 8 April 2022 titled 'Did Pandemic Spending Go towards a Feminist People’s Recovery in Africa and Latin America?'

IFI governance

Background

7 April 2022 | Minutes

The future is public: Prioritizing public services in the light of Covid and climate change

Notes from the 7 April Civil Society Policy Forum - The future is public: Prioritizing public services in the light of Covid and climate change.

IFI governance

Analysis

19 October 2021

Development Committee communiqué analysis - Annual Meetings 2021

The Development Committee communiqué was published on 15 October. It acknowledged an uneven and uncertain path to recovery, while it kept silent on the need for a TRIPS waiver of the Covid-19 vaccines and said little about the IMF’s new $650 billion allocation of SDRs.

IFI governance

Background

19 October 2021 | Minutes

The World Bank’s Development Policy Financing: implications for a just, green and feminist recovery

Notes from the Civil Society Policy Forum session on 29 September on the implications and shortcomings of how Development Policy Financing nudges countries towards policy reforms.

IFI governance

Analysis

19 October 2021

IMFC communiqué analysis – Annual Meetings 2021

The communiqué of the IMFC was issued on 14 October. It emphasised an uneven recovery from the Covid-19 crisis and highlighted debt concerns. It also called for progress on IMF quota reform.

IFI governance

Background

19 October 2021 | Minutes

Building back better through IDA20: Public investment as a tool for socio-economic transformation in Africa

Notes from the Civil Society Policy Forum session on 7 October on IDA20's replenishment implications with a focus on Africa.

IFI governance

Background

8 October 2021 | Minutes

The role of the World Bank in combatting economic gender inequality in conflict-affected countries

Notes from the Civil Society Policy Forum session on 8 October on the need for the World Bank to better address economic gender inequality in conflict-affected countries.

IFI governance

Background

6 October 2021 | Minutes

Building back better health systems: lessons from the WBG's Covid-19 response and recovery plans

Notes from the Civil Society Policy Forum session on 6 October on the World Bank's need to highlight the centrality of public healthcare systems, central to a just and equitable recovery.

IFI governance

Background

6 October 2021 | Minutes

IMF surcharges: A necessary tool or counter-productive obstacle to a just and green recovery?

Notes from the Civil Society Policy Forum session on 6 October on the governance and resourcing implications of IMF's surcharges.

IFI governance

Background

4 October 2021 | Minutes

Making the Most of Special Drawing Rights: Approaches to maximise impact and create a sustainable and just recovery

Notes from the Civil Society Policy Forum session on 4 October on the ways to maximise the impacts of the recent allocation of $650 billion Special Drawing Rights.

IFI governance

Background

29 September 2021 | Minutes

Covid-19 recovery: from government response to private sector-led sustainable growth

Notes from the Civil Society Policy Forum session on 29 September on fiscal measures to promote sustainable growth during the longer-term recovery phase.

IFI governance

Background

25 March 2021 | Minutes

An economic future for whom? The Cascade/MFD and recovery

Notes from the virtual Spring 2021 Civil Society Policy Forum on 25 March 2021.

IFI governance

Background

20 April 2018 | Minutes

A lost decade for human rights? Assessing austerity and its alternatives 10 years on from the financial crisis

Notes from the 20 April Civil Society Policy Forum session on assessing austerity and its alternatives 10 years after the global financial crisis at the World Bank and IMF's Spring Meetings.

IFI governance

Background

19 April 2018 | Minutes

Financing development through financial intermediaries: Exploring best practices in transparency

Notes from the 19 April Civil Society Policy Forum session on financing development through financial intermediaries at the World Bank and IMF Spring Meetings.

IFI governance

Background

19 April 2018 | Minutes

Financial crisis 10 years on. Has the response to 2008 laid the foundations for the next?

Notes from the 19 April Civil Society Policy Forum session on the response to the 2008 financial crisis at the World Bank and IMF's Spring Meetings.

IFI governance

Background

19 April 2018 | Minutes

The promotion of Public-Private Partnerships – exporting a failed model?

Notes from the 19 April Civil Society Policy Forum session on the World Bank's promotion of public-private partnerships at the World Bank and IMF's Spring Meetings.

IFI governance

Background

18 April 2018 | Minutes

Big Shift: How can the Development Banks align with the Paris Agreement?

Notes from the 18 April Civil Society Policy Forum session on aligning multilateral development banks with the Paris Agreement at the World Bank and IMF's Spring Meetings.

IFI governance

Background

18 April 2018 | Minutes

Can the World Bank improve energy access for the poor? The importance of transparency in achieving the SDGs

Notes from the 18 April Civil Society Policy Forum session on the World Bank's approach to financing energy access at the Work Bank and IMF's Spring Meetings.

IFI governance

Background

13 October 2017 | Minutes

Great expectations: Is the IMF turning words into action on inequality?

Notes from the 2017 World Bank and IMF Annual Meetings session on the IMF's approach to inequality, 13 October.

IFI governance

Background

12 October 2017 | Minutes

Diagnosing governance challenges in the extractive sector: The Resource Governance Index and beyond

Notes from the 2017 World Bank and IMF Annual Meetings Civil Society Policy Forum session on the challenges of effective governance of the oil, gas and mining sectors in resource-rich countries.

IFI governance

Background

11 October 2017 | Minutes

Civil Society Townhall 2017

Notes and video from the 2017 World Bank and IMF Annual Meetings session of the Civil Society Town Hall, 11 October.

IFI governance

Background

11 October 2017 | Minutes

The challenges of financing infrastructure in developing countries through PPPs: A focus on contracts and laws

Notes from the 2017 World Bank and IMF Annual Meetings session on financing infrastruure in Latin America through PPPs. This session aims to discuss the main challenges pose by the widespread promotion of PPPs and its impacts in particular Latin American cases.

IFI governance

Background

11 October 2017 | Minutes

Funding energy access for the poor: Can the Bank meet the Challenge?

Notes from the 2017 World Bank and IMF Annual Meeting Civil Society Policy Forum session on energy access, 11 October.

IFI governance

Background

10 October 2017 | Minutes

Measuring impact – an overview of IFC’s new approach to measuring development impact

Notes on the IFC's new approach to measuring development impact at the Civil Society Policy Forum 2017, 10 October.

IFI governance

Background

7 October 2016 | Minutes

The new World Bank environmental and social framework: Opportunities and challenges for implementation

Notes from a side event on implementation of the new World Bank environmental and social framework, which took place during the World Bank-IMF 2016 annual meetings.

IFI governance

Background

10 November 2016 | Minutes

UK civil society meeting with DFID: Annual meetings and IDA

Notes of a UK CSO meeting with DFID on the annual meetings and the IDA process 23 September 2016.

IFI governance

Background

7 October 2016 | Minutes

Recurring debt crises in sub-Saharan Africa and the rise of bond issuance

Notes from a side event at the IMF/World Bank 2016 annual meetings launching a new report on bonds issuance in Nigeria, Zambia and Ghana, followed by a panel discussion on government bonds as a debt issue.

IFI governance

Background

6 October 2016 | Minutes

The role of IFIs in assessing the impact of tax incentives and tax competition on inequality

Notes from a side event at the IMF/World Bank 2016 annual meetings exploring the link between tax incentives, reduced revenue mobilization and inequality, as well as addressing tax capacity building efforts.

IFI governance

Background

6 October 2016 | Minutes

Stopping vulture funds through national anti-vulture laws

Notes from a side event at the IMF/World Bank 2016 annual meetings exploring the issue of vulture funds from various angles, as well as possible solutions.

IFI governance

Background

6 October 2016 | Minutes

Evaluating citizen engagement in World Bank operations

Notes from a side event on citizen engagement in World Bank operations, which took place during the World Bank-IMF 2016 annual meetings.

IFI governance

Background

6 October 2016 | Minutes

Equity, inclusion and education: Examining evidence on low-fee private schools

Notes from a side event on privatisation of education and low-fee private schools, which took place during the World Bank-IMF 2016 annual meetings.

IFI governance

Background

4 October 2016 | Minutes

Emerging Lessons from Indigenous Peoples’ Cases

Notes from a side event on emerging lessions from indigenous peoples cases of the Inspection Panel, which took place during the World Bank-IMF 2016 annual meetings.

IFI governance

Background

4 October 2016 | Minutes

CSO roundtable with World Bank Group Executive Directors

Notes from a CSO roundtable with World Bank Group Executive Directors at the IMF/World Bank 2016 annual meetings.

IFI governance

Background

17 April 2016 | Minutes

IMF Fiscal Forum - International Taxation: Opportunities & Risks

IFI governance

Background

17 April 2015 | Minutes

Safeguard policies review

Notes from a meeting on the World Bank safeguards review during the World Bank spring meetings.

IFI governance

Background

17 April 2015 | Minutes

What are the trends in the energy sector?

Notes from a meeting on energy during the World Bank spring meetings.

IFI governance

Background

17 April 2015 | Minutes

Ebola debt relief – Implications and next steps

Notes from a meeting on Ebola during the World Bank spring meetings.

IFI governance

Background

16 April 2015 | Minutes

Development policy financing retrospective: Emerging findings and lessons

Notes from a meeting on the World Bank's Development Policy Finance retrospective during the Word Bank spring meetings.

IFI governance

Background

16 April 2015 | Minutes

Aligning the financial system with sustainable development

Notes from a meeting on the financial system and sustainable development during the World Bank/IMF spring meetings.

IFI governance

Background

11 October 2014

Sovereign debt restructuring: options, obstacles and opportunities

Notes of a meeting on sovereign debt restructuring at the World Bank-IMF annual meetings 2014

IFI governance

Background

11 October 2014

The impact of the BRICS’ Contingent Reserve Arrangement (CRA) and the New Development Bank (NDB)

Notes of a meeting on BRICS’ Contingent Reserve Arrangement (CRA) and the New Development Bank (NDB) at the World Bank-IMF annual meetings 2014

IFI governance

Background

10 October 2014 | Minutes

UK civil society meeting with UK World Bank Executive Director Gwen Hines

Notes of a meeting with World Bank executive director Gwen Hines in October 2014.

IFI governance

Background

10 October 2014

IFC Update on Dinant financing

Notes of an IFC update on Dinant financing at the World Bank-IMF annual meetings 2014

IFI governance

Background

10 October 2014

Discussion with the IFC/MIGA Compliance Advisor Ombudsman (CAO)

Notes of a discussion with the IFC/MIGA Compliance Advisor Ombudsman (CAO) at the World Bank-IMF annual meetings 2014

IFI governance

Background

10 October 2014

From interim strategy to full country partnership: lessons from Myanmar

Notes of a meeting on Myanmar's transition to full country partnership at the World Bank/IMF annual meetings 2014

IFI governance

Background

9 October 2014

Financing for development: What actions are needed on debt and illicit capital flows?

Notes of a meeting on financing for development at the World Bank-IMF annual meetings 2014

IFI governance

Background

9 October 2014

Matching money and expertise: ensuring conflict sensitivity is top of the agenda for the bank's fragile state financing

Notes of a meeting on matching money and expertise at the World Bank-IMF annual meetings 2014

IFI governance

Background

9 October 2014

After SCOTUS: Next steps in sovereign debt restructuring

Notes of a meeting on sovereign debt restructuring after SCOTUS at the World Bank-IMF annual meetings 2014

IFI governance

Background

9 October 2014

IFC lending through financial intermediaries - a year on from the action plan, what have we learned?

Notes of a meeting on IFC lending through financial intermediaries at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Governance and impact report 2014

Notes of a meeting on governance and impact report 2014 at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Comparative analysis of social and environmental safeguards in IFIs

Notes of a meeting on comparative analysis of social and environmental safeguards in IFIs at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Emerging markets in transition: growth prospects and challenges

Notes of a meeting on emerging markets in transition at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Making PPPs work

Notes of a meeting on how to make PPPs work at the World Bank-IMF annual meetings 2014

IFI governance

Background

7 October 2014

CSO roundtable with Executive Directors

Notes of CSO roundtable with Executive Directors at the World Bank-IMF annual meetings 2014

IFI governance

Background

7 October 2014

CSO land rights and resettlement

Notes of a meeting with CSOs on land rights and resettlement at the World Bank-IMF annual meetings 2014

Conditionality

Background

22 April 2014 | Minutes

Reforming IMF conditionality. Where do we stand?

IFI governance

Background

12 April 2014

An overview of the World Bank Group's new country engagement model

Conditionality

Background

12 April 2014

IMF recommendations to Arab countries in transition: Challenges & prospects

Finance

Background

11 April 2014

Financial tremors in developing countries: is another earthquake on the way?

IFI governance

Background

11 April 2014

What does real accountability mean in practice?

IFI governance

Background

9 April 2014

Mega-project mania?

IFI governance

Background

23 January 2014 | Resource

Recommended resources on the World Bank and IMF 2013

The best papers, books and electronic resources on the World Bank and IMF from 2013.

Rights

Background

14 October 2013 | Minutes

Review and update of the World Bank’s safeguard policies

Minutes from a side event with the World Bank safeguards team presenting an update on the review process during the World Bank/IMF annual meetings 2013.

IFI governance

Background

13 October 2013 | Minutes

Meeting president Kim’s pledge of “no dilution” for safeguards

Minutes of a civil society meeting on upward harmonisation of World Bank safeguards during the World Bank/IMF annual meetings 2013.

IFI governance

Background

13 October 2013 | Minutes

Continuing conversations with CAO

Minutes from a CAO sponsored event during the 2013 World Bank/IMF annual meetings.

IFI governance

Background

13 October 2013 | Minutes

World Bank Group strategy and reform process

Minutes from a World Bank sponsored event on the new World Bank Group strategy during the 2013 WB/IMF annual meetings.

IFI governance

Background

13 October 2013 | Minutes

Why the Bank and Fund provide too little debt relief too late – and what can be done about it

Expert panelists discuss the need for comprehensive and automatic debt restructuring mechanisms, at the Annual Meetings 2013 civil society forum

IFI governance

Background

13 October 2013 | Minutes

Is the European recovery finally under way?

CEPR event at the 2013 civil society forum on whether a recovery is under way in Europe; held as a debate between Prakash Loungani of the IMF's research department and Mark Weisbrot, CEPR co-director.

IFI governance

Background

13 October 2013 | Minutes

Subsidy reform in Arab countries: Reflection on IMF recommendations

New America Foundation civil society event on subsidy reform in Arab countries, held in the civil society forum of the 2013 IMF/World Bank annual meetings

IFI governance

Background

12 October 2013 | Minutes

Austerity and Inequality in Europe

Minutes from Oxfam-hosted civil society seminar at 2013 Annual meetings on European austerity and inequality

IFI governance

Background

10 October 2013 | Minutes

IMF consultation: CSO views on fiscal transparency policy

Minutes of an IMF consultation on fiscal transparency policy

IFI governance

Background

25 April 2013 | Minutes

Doing Business at the crossroads: ten years

Spring meetings side event hosted by the Center for Strategic and International Studies on 19 April 2013

Infrastructure

Background

23 April 2013 | Minutes

Colombia case study: results measurement and poverty eradication

This session examined Colombia's private sector partnerships and poverty eradication programme.

IFI governance

Background

23 April 2013 | Minutes

The private sector and poverty eradication

This session gave an overview on the links between private sector and healthcare provision in tackling poverty.

Accountability

Background

22 April 2013 | Minutes

Bending the arc of poverty

The session focused on the World Bank's development strategy, poverty eradication goals, global inequality, and the threat of climate change.

Accountability

Background

22 April 2013 | Minutes

Financial and housing crises, the Bank's safeguards and the right to adequate housing

This session featured a presentation from UN special rapporteur on the links between financial and housing crises, safeguards and the right to adequate housing.

Accountability

Background

22 April 2013 | Minutes

The challenges of advancing sustainability at the World Bank

This panel discussion reflected on the major sustainability challenges facing the World Bank through exploring two World Resources Institute areas - a portfolio analysis on 2012 projects, and the interaction between country systems and World Bank safeguard approaches.

IFI governance

Background

22 April 2013 | Minutes

From the Arab revolutions to global austerity trends

This session examined issues thrown up by the Arab revolutions, including the fiscal, monetary, tax and investment policies being considered by governments facilitating, or hindering countries in the Arab and other regions in building an inclusive economy and supporting socioeconomic recovery, the impact on public expenditure for the strengthening of education, health, and other social sectors as well as the management of chronic and high unemployment and high food and fuel prices.

IFI governance

Background

18 April 2013 | Minutes

After recent court decisions: how can sovereign debt workouts become fair, comprehensive and account

This session examines the challenges which recent court decisions pose to sovereign debt workouts that allow for burden-sharing and take into account the social development needs of debtor countries.

Knowledge

Background

18 April 2013 | Minutes

Frameworks to support IMF policy advice to low-income countries

This event examined financial Sector Surveillance in Low Income Countries - Financial Deepening and Macro-stability Financial Deepening and Macro-Stability

Accountability

Background

18 February 2013 | Minutes

UK Civil Society Meeting with Minister of State Rt Hon Alan Duncan MP

This was a meeting on 1 October 2012, between the Minister of State of the UK's Department for International Development (DFID) and civil society representatives, focusing on the World Bank.

IFI governance

Background

13 October 2012 | Minutes

World Bank Inspection Panel at 19: Some Lessons for Safeguard Policy

This panel discussion centered on the possible policy lessons for the Safeguard Review of learning from the emblematic or most frequently registered cases of non-compliance with Bank safeguard policies, particularly project supervision, environmental assessment, and involuntary resettlement.

IFI governance

Background

13 October 2012 | Minutes

Think tanks: promoting local solutions, influencing global thinking

This session brought together representatives of three leading policy research organizations from Bangladesh, Tanzania and Ecuador, to share their experiences and analysis of the potential of think tanks to promote local solutions and influence global thinking.

Infrastructure

Background

13 October 2012 | Minutes

Post Fukushima: The Role of the Financial Sector in Energy Future

This session introduced the audience to an overview of global energy issues and specific analyses of the environment and economic impacts of Fukushima nuclear power accident, and discussed the roles of the financial sector in viable global energy future.

Accountability

Background

12 October 2012 | Minutes

Doing business report rankings

This session will bring together experts from labour, development and business organizations to highlight issues and perspectives that need to be part of the review of these influential rankings.

Accountability

Background

12 October 2012 | Minutes

IMF consultation meeting on engagement with civil society: review and way forward

This session sought to gather CSO views, suggestions, and concerns on how to improve the current guidelines, including IMF consultation processes on policies, strategies, and Article. IV consultations

IFI governance

Background

12 October 2012 | Minutes

Citizen-Led Accountability at the World Bank Group: experiences of independent recourse mechanisms

This session aimed to gather CSO views, suggestions, and concerns on how to improve the current guidelines, including IMF consultation processes on policies, strategies, and Art. IV consultations.

IFI governance

Background

12 October 2012 | Minutes

Facilitating international adjustment through timely debt resolution

This session highlighted the perspectives of finance ministers, policy makers, and academics on the need to ensure timely, effective international adjustment in a manner consistent with sustained global growth and continued adherence to the system of open, dynamic international trade and payments constructed over the past 65 years.

Rights

Background

12 October 2012 | Minutes

World Bank safeguard review and CSOs approaches in their engagement

Interaction between the Bank and CSOs on the approach paper through this panel provided an opportunity for the Bank and CSOs to highlight areas of importance and provide input about the direction of the safeguard review.

IFI governance

Background

11 October 2012 | Minutes

The Role of the Independent Evaluation Group (IEG)

This session provided CSOs with the opportunity to have an exchange with IEG's Director-General and Senior Vice President on the role of the IEG.

Accountability

Background

11 October 2012 | Minutes

Global financial regulations and their Impact on major campaigns

This event was a collegial information-sharing and strategy session to explore the linkages between financial regulations and grass roots campaigns.

IFI governance

Background

11 October 2012 | Minutes

CSO Townhall with Jim Yong Kim and Christine Lagarde

This townhall was for CSO representatives accredited to the Annual Meetings. The CSO Discussants made initial remarks on Fund and Bank policies and were followed by comments from Mr. Kim and Ms. Lagarde. This was then followed by a general discussion on issues of concern to CSO representatives.

IFI governance

Background

11 October 2012 | Minutes

From country systems to DPLs: understanding the World Bank's approach to social and environmental ri

This session will discuss the strengths and weaknesses of the Bank’s approaches with respect to different financial instruments and evaluate the challenges of ensuring coherence in environmental and social sustainability outcomes across instruments.

IFI governance

Background

10 October 2012 | Minutes

Making global governance accountable: civil society experiences with 13 Institutions

This session discussed the conclusions reached on the global governance role of civil society by the Civil Society and Accountable Global Governance project.

Accountability

Background

3 August 2012 | Minutes

IFI re-engagement in Burma

Minutes of Burma and IFIs meeting, Washington DC, 18 April 2012

Accountability

Background

23 April 2012 | Minutes

EIR + 10

Minutes of afternoon sessions of extractives conference, Washington DC, 23 April 2012

IFI governance

Background

23 April 2012 | Minutes

2012 Tokyo Annual Meeting Planning Session

2012 Tokyo Annual Meeting Planning Session held on Saturday, 21 April.

Accountability

Background

21 April 2012 | Minutes

Lessons from IEG's Cluster Review of IFC-supported Extractive Industries Projects

Minutes of IFC and extractives meeting, Washington DC, 21 April 2012

Accountability

Background

21 April 2012 | Minutes

Safeguards in a Changing Landscape

Minutes of safeguards meeting, Washington DC, 21 April 2012

Finance

Background

20 April 2012 | Minutes

How can the IMF enhance its focus on growth and poverty reduction in LICS?

A civil society meeting held at the World Bank and the IMF hold their 2012 spring meetings in Washington DC on Friday 20th April.

IFI governance

Background

20 April 2012 | Minutes

Seminar - Time for a New Consensus: Regulating Financial Flows for Stability and Development

As the World Bank and the IMF hold their 2012 spring meetings in Washington DC this week, Latindadd and the Bretton Woods Project organised a seminar about regulating financial flows on Thursday 19 April.

IFI governance

Background

20 April 2012 | Minutes

Austerity in the Eurozone

Seminar at the Spring meetings 2012, 19 April 12

Infrastructure

Background

20 April 2012 | Minutes

Kosovo's options for a sustainable energy future

Minutes of presentation and discussion on Kosovo's options to develop a sustainable energy future, Washington DC, 20 April 2012.

Infrastructure

Background

20 April 2012 | Minutes

World Bank's Climate Investment Funds 4 years later

Minutes of meeting on the World Bank-housed Climate Investment Funds and the Green Climate Fund, Washington DC, 19 April 2012

Land

Background

20 April 2012 | Minutes

Agriculture and Food Security

Minutes of agriculture and food security meeting, Washington DC, 19 April 2012

Infrastructure

Background

20 April 2012 | Minutes

Climate change, energy access and sustainable development

Minutes of climate change and energy access meeting, Washington DC, 18 April 2012

Accountability

Background

19 April 2012 | Minutes

Supporting Social Accountability for Better Results

Minutes of World Bank Social accountability plenary, Washington DC, 19 April 2012

Accountability

Background

19 April 2012 | Minutes

Development Policy Lending (DPL) Retrospective consultation

Minutes meeting, Washington DC, 18 April 2012

Environment

Background

19 April 2012 | Minutes

IMF Consultation on Natural Resources Management and Taxation

Notes of meeting, Spring meetings 2012, Washington DC

Infrastructure

Background

26 September 2011 | Minutes

India's energy future: Consequences of India's coal rush and alternative energy scenarios

Notes of a panel discussion, Washington DC, 20 September 2011

Infrastructure

Background

26 September 2011 | Minutes

India's energy future: What role for the Bank?

Notes of meeting, Washington DC, September 21, 2011

Knowledge

Background

26 September 2011 | Minutes

Civil Society Strategy Meeting on the Doing Business rankings

Notes of a meeting, Washington DC, 21 September 2011

Environment

Background

26 September 2011 | Minutes

CSO Roundtable with Lars Thunel

Notes of a meeting, Washington DC, 21 September 2011

Environment

Background

26 September 2011 | Minutes

Safeguards and climate finance in Indonesia in the context of REDD+

Notes of meeting, Washington DC, September 23, 2011

Social services

Background

23 September 2011 | Minutes

Seminar - Gender Equality Matters: The Way Forward

Notes of meeting, Washington DC, September 21, 2011

Accountability

Background

23 September 2011 | Minutes

CSO Townhall with Robert Zoellick and Christine Lagarde

Notes of meeting, Washington DC, September 22, 2011

Infrastructure

Background

23 September 2011 | Minutes

Scaling up Climate Finance

Notes of meeting, Washington DC, September 22, 2011

IFI governance

Background

23 September 2011 | Minutes

Financial Transaction Tax implementation

Notes of a meeting, Washington DC, 22 September 2011

Finance

Background

23 September 2011 | Minutes

Real Aid

Notes of a panel discussion, Washington DC, 21 September 2011

Environment

Background

23 September 2011 | Minutes

Plundered nations?

Notes of a meeting, Washington DC, 21 September 2011

Accountability

Background

18 April 2011 | Minutes

Consultation on Program for Results (P4R)

Notes of meeting, Washington DC, April 16, 2011

Rights

Background

18 April 2011 | Minutes

Safeguards consultation, World Bank, 16 April 2011

Summary of consultation held at the World Bank in Washington, 16 April 2011

Accountability

Background

18 April 2011 | Minutes

IFC and Financial Intermediary Lending

Notes of meeting, Washington DC, April 15, 2011

IFI governance

Background

15 April 2011 | Minutes

How the Financial Stability Board Affects Development Prospects: Opening the Black Box

Notes of a meeting held in Washington DC, 15 April 2011

Finance

Background

14 April 2011 | Minutes

IFC's international development goals

IFC staff member discusses plans for goals to guide future work in private sector development.

Land

Background

14 April 2011 | Minutes

The regulation of excessive speculation in commodity markets: what's at stake

Financial experts critically discuss commodity speculation.

IFI governance

Background

13 April 2011 | Minutes

IMF triennial surveillance review

Notes of meeting, Washington DC, April 13, 2011

Finance

Background

13 April 2011 | Minutes

Meeting between the UK IMF Executive Director Alex Gibbs, HM Treasury and UK civil society organisat

Notes of the seminar of spring meetings 2011

Environment

Background

12 October 2010 | Minutes

Energy, Poverty, Sustainability and Climate Change

Minutes of a seminar at the 2010 annual meetings, 8 October 2010

IFI governance

Background

12 October 2010 | Minutes

Held in reserve: can a new approach to monetary policy transform the global economic outlook?

Minutes of an experts seminar held on the sidelines of the 2010 Annual Meetings of the IMF, 7 October 2010

IFI governance

Background

12 October 2010 | Minutes

Investment lending reform

A briefing by World Bank staff on the investment lending reform, 9 October 2010

Knowledge

Background

11 October 2010 | Minutes

Post MDG Summit

Notes of the seminar of annual meetings 2010

IFI governance

Background

11 October 2010 | Minutes

Future of the global financial and monetary system

Notes of the seminar of annual meetings 2010

IFI governance

Background

11 October 2010 | Minutes

Global economic governance

Notes of the seminar of annual meetings 2010

Conditionality

Background

8 October 2010 | Minutes

Civil Society Townhall Meeting with Robert Zoellick and Dominique Strauss-Kahn

Notes of the seminar of annual meetings 2010

Knowledge

Background

7 October 2010 | Minutes

Meeting between the UK IMF Executive Director Alex Gibbs , HM Treasury and UK civil society organisa

Notes of the seminar of annual meetings 2010

IFI governance

Background

29 April 2010 | Minutes

Future of the World Bank: major reforms or a series of minor adjustments?

Civil society event at the World Bank spring meetings 2010, 24 April

Infrastructure

Background

26 April 2010 | Minutes

Launch of Bank Information Center's (BIC's) model energy strategy

Civil society event at the World Bank spring meetings 2010, 24 April

Accountability

Background

26 April 2010 | Minutes

A sustainable World Bank energy strategy: perspectives from various stakeholders

Civil society event at the World Bank spring meetings 2010, 23 April

Accountability

Background

26 April 2010 | Minutes

Evaluation as a critical tool for accountability

Civil society event at the World Bank spring meetings 2010, 23 April

IFI governance

Background

23 April 2010 | Minutes

An IMF for the 21st century - the low-income country perspective

Civil society event at the World Bank spring meetings 2010, 22 April

Environment

Background

23 April 2010 | Minutes

Financing the response to climate change: special drawing rights (SDRs) for climate finance

Civil society event at the World Bank spring meetings 2010, 22 April

Infrastructure

Background

23 April 2010 | Minutes

Governance challenges in financing green and sustainable energy policies

Freidrich-Ebert-Stiftung event at the World Bank spring meetings 2010, 22 April

Infrastructure

Background

23 April 2010 | Minutes

Roundtable on post-crisis economic recovery

World Bank event at the World Bank spring meetings 2010, 22 April

Environment

Background

23 April 2010 | Minutes

World Bank, climate change and climate finance

Civil society event at the World Bank spring meetings 2010, 22 April

IFI governance

Background

9 October 2009 | Minutes

The IMF and protectionist trade policies: What does the record of the past 15 years tell us?

Seminar on the IEo evluation of IMF trade policy advice in Istanbul, 2 October 2009.

IFI governance

Background

8 October 2009 | Minutes

Financial sector policies in the crisis

Programme of Seminars session in Istanbul on 3 October 2009 with Zeti Aziz, Andrew Crockett, Christine Cummings, Sayed Sadeeq, and John Laker.

Environment

Background

8 October 2009 | Minutes

CSO Townhall meeting

Notes from the CSO townhall meeting with Dominique Strauss-Kahn and Robert Zoellick

Accountability

Background

8 October 2009 | Minutes

IMF governance - CSO meeting with the IMF managing director

Minutes of a meeting between civil society organisations, IMF managing director Dominique Strauss-Kahn and IMF deputy managing director John Lipsky

Environment

Background

6 October 2009 | Minutes

Consultation meeting on World Bank environmental strategy

Summary of the first consultation on their new environment strategy, which they will develop next year.

IFI governance

Background

5 October 2009 | Minutes

The impact of financial regulation on developing countries

The impact of financial regulation on developing countries, World Bank Programme of Seminars, with Mingkang Liu, Joseph Stiglitz, and Alvir Hoffman.

Conditionality

Background

5 October 2009 | Minutes

The IMF: Change we can believe in?

The IMF: Change we can believe in? Notes of a civil society meeting in Istanbul. Speakers include Joseph Stiglitz, Andrew Kumbatira, Caroline Atkinson, and Bhumika Muchhala.

IFI governance

Background

5 October 2009 | Minutes

Future of the Global Financial System

Notes of part of a panel debate chaired by Martin Wolf of the Financial Times, Istanbul, 4 October 2009.

Finance

Background

4 October 2009 | Minutes

Report launch: Post-crisis growth in developing countries

Growth commission event in Istanbul.

IFI governance

Background

4 October 2009 | Minutes

The UN conference and the G20 summit

Minutes from The UN conference and the G20 summit, civil society policy forum discussion on 3 October 2009. Istanbul, Turkey

IFI governance

Background

4 October 2009 | Minutes

Critical debate on the World Bank and IMF

Summary of a presentation made by Professor Anwar Shaikh, the New School for Social Research, on "Monetary Policy and the Global Crisis"

IFI governance

Background

4 October 2009 | Minutes

Global economic governance roundtable

Summary of a discussion with German government representatives, Jomo KS of the UN and civil society organisations.

Environment

Background

27 April 2009 | Minutes

The World Bank's programs on forests and climate change

A civil society event organised by World Resources Institute (WRI) at the World Bank spring meetings 2009

IFI governance

Background

27 April 2009 | Minutes

Compliance Advisory Ombudsman review of standards for Bank’s private sector lending

Notes of a session with the CAO at the World Bank spring meetings, Washington, DC, April 22, 2009.

IFI governance

Background

25 April 2009 | Minutes

IMF crisis response- discussion

Notes of a meeting between the IMF and civil society organisations

Environment

Background

13 April 2008 | Minutes

Dialogue with NGOs and Lars Thunell, Executive Vice President and CEO, IFC

Dialogue with NGOs and Lars Thunell, Executive Vice President and CEO, IFC

Environment

Background

11 April 2008 | Minutes

Macroeconomic and fiscal implications of climate change and the policies to address it

A briefing by IMF economists at the spring meetings 2008.

IFI governance

Background

11 April 2008 | Minutes

Briefing on the World Bank's Six Strategic Themes

Minutes of a briefing by World Bank staff on the WBG's six strategic themese

Conditionality

Background

11 April 2008 | Minutes

IMF consultation in advance of the PSI review

Notes of a consultation between IMF staff and NGOs in advance of the PSI review

Social services

Background

10 April 2008 | Minutes

Structural conditionalities in the IMF: A discussion between the IMF, IEO, and CSOs

An upcoming civil society report demonstrates that IMF structural conditionality did not decline in the five years after the approval of the Fund's conditionality guidelines in September 2002, which were based on the principles of ownership and criticality in its application of structural conditionality, as well as to streamlining the number of conditions. Going on seven years, it seems that these guidelines have been more honoured in principle than in practice. A recent Independent Evaluation O

Finance

Background

26 October 2007 | Minutes

Macroeconomic aspects of aid scaling up and the role of the Fund

Highlights of a 21 October discussion on the macroeconomics of aid scaling up at the World Bank-IMF annual meetings 2007.

Conditionality

Background

26 October 2007 | Minutes

Wage bill ceilings, fiscal and monetary policies and absorbing aid inflows - updates and next steps

Highlights of a 20 October discussion on the the IMF's fiscal and monetary policy advice and conditionality for low-income countries at the World Bank-IMF annual meetings 2007.

Accountability

Background

26 October 2007 | Minutes

Rethinking the governance of the IMF

Highlights of a 19 October discussion on the reform of IMF governance at the World Bank-IMF annual meetings 2007.

Accountability

Background

26 October 2007 | Minutes

The role of low-income countries in IFI governance

Highlights of a 19 October discussion on the role of low-income countries in IMF governance at the World Bank-IMF annual meetings 2007.

Conditionality

Background

26 October 2007 | Minutes

The IMF's Policy Support Instrument: more flexibility or continued belt tightening

Highlights of a 21 October discussion on the IMF's Policy Support Instrument (PSI) at the World Bank-IMF annual meetings 2007.

Environment

Background

23 October 2007 | Minutes

Townhall meeting and reception with World Bank and IMF presidents and civil society representatives

Highlights of an 18 October 'town hall' meeting between WB-IMF heads and CSOs.

Environment

Background

23 October 2007 | Minutes

The agenda of the Development Committee and the provision of Global Public Goods

Highlights of a 20 October meeting hosted by the FES Foundation on global public goods, at the World Bank-IMF annual meetings 2007.

Infrastructure

Background

23 October 2007 | Minutes

Climate change and clean energy challenges and opportunities in addressing Africa's growing energy n

Highlights of a meeting at the World Bank-IMF annual meetings 2007.

Infrastructure

Background

23 October 2007 | Minutes

Low carbon, high hopes: making climate action work for development

Highlights of a 19 October meeting at the World Bank-IMF annual meetings 2007.

Environment

Background

5 October 2007 | Minutes

Highlights of BWI-UK network meeting with Douglas Alexander

Highlights of a 4 October meeting between NGOs in the BWI-UK network and secretary of state for international development, Douglas Alexander, addressing IFI strategic reviews, aid effectiveness, clean energy/climate change and a number of other issues.

Conditionality

Background

27 April 2007 | Minutes

IMF macroeconomic policies and the impacts on education budgets and teacher wages

IMF civil society dialogue, spring meetings 2007 (14 April 2007)

Conditionality

Background

27 April 2007 | Minutes

IEO Evaluation of the IMF and Aid to Sub-Saharan Africa

Civil society dialogue, spring meetings 2007 (12 April 2007) on the IEO Evaluation of the IMF and Aid to Sub-Saharan Africa

IFI governance

Background

27 April 2007 | Minutes

European CSO meeting with European IMF EDs

Incomplete minutes of European CSO meeting with European IMF EDs, 13 April 2007

Conditionality

Background

20 April 2007 | Minutes

Fiscal space and fiscal priorities: Infrastructure, trade and poverty

This panel discussion addressed the pros and cons of fiscal space for infrastructure when infrastructure is trade-related, what they mean for current proposals by the World Bank and IMF on fiscal space, and the importance of an assessment that looks jointly at the trade and financial aspects on the grounds of poverty reduction, development and environment goals.

Conditionality

Background

19 April 2007 | Minutes

Sub-Saharan Africa: Outlook and Challenges

Sub-Saharan Africa: Outlook and Challenges; IMF-civil society dialogue, 13 April 2007

IFI governance

Background

26 October 2006 | Minutes

Highlights of Hilary Benn meeting with UK NGOs

Highlights of semi-annual meeting between UK Secretary of State for International Development and UK NGOs. Topics covered include CSO access to annual meetings, conditionality, anti-corruption, odious debt, clean energy, education in LICUS, bank internal governance, IFC safeguards

IFI governance

Background

26 September 2006 | Minutes

Highlights of Tom Scholar meeting with UK NGOs

Highlights of quarterly meeting between UK executive director to the World Bank and IMF and UK NGOs. Topics covered include CSO access to annual meetings, IMF strategic review, conditionality, anti-corruption and education.

IFI governance

Background

28 June 2006 | Minutes

Highlights of Tom Scholar meeting with UK NGOs, Monday 26 June 2006

Highlights of Tom Scholar meeting with UK NGOs, Monday 26 June 2006

IFI governance

Background

9 May 2006 | Minutes

Policy issues in scaling up of aid flows

Highlights of a spring meetings dialogue hosted by the IMF on scaling-up aid, where senior Fund staff Peter Heller walked out.

Social services

Background

28 April 2006 | Minutes

Evaluating the impact of the PRGF: The cases of Ethiopia, Malawi, Tanzania and Zambia

Highlights of a civil society dialogue on the IMF Poverty Reduction and Growth Facility, at the World Bank spring meetings in Washington, 20 April 2006.

Infrastructure

Background

27 April 2006 | Minutes

World Bank dialogue on the clean energy investment framework

Highlights of a World Bank-organised dialogue on its new clean energy investment framework at the spring meetings in Washington, 24 April 2006.

IFI governance

Background

25 April 2006 | Minutes

Briefing on the implementation of new IFC performance standards

Briefing on the implementation of new IFC performance standards at the World Bank-IMF spring meetings in Washington, 20 April 2006.

Conditionality

Background

25 April 2006 | Minutes

Dialogue on national development strategies and the Millennium Development Goals

Dialogue on national development strategies and the Millennium Development Goals at the World Bank-IMF spring meetings in Washington, 20 April 2006.

Finance

Background

25 April 2006 | Minutes

Dialogue on Fund role in middle-income countries

Dialogue on Fund role in middle-income countries at the World Bank-IMF spring meetings in Washington, Thursday 20 April.

IFI governance

Background

6 October 2004 | Minutes

Grants or Loans? The Full Debate

The session considered the arguments surrounding the provision of grants or loans by IDA. It considered the recent call by President Bush for the World Bank and other development banks to provide more of their funds to the poorest countries as grants, in recognition of the pivotal role that grants play in providing prudent financing for pressing development needs.

IFI governance

Background

4 October 2004 | Minutes

CSO meeting with European Executive Directors

Note from meeting in Washington between European IFI network and European EDs as part of the civil society programme of the World Bank and IMF Annual Meetings 04.

Latest articles on this issue

IMF Managing Director Kristalina Georgieva and World Bank President Ajay Banga at the World Economic Forum Annual Meeting 2024 in Davos-Klosters, Switzerland, 17 January. Credit: World Economic Forum / Benedikt von Loebell

IFI governance

Analysis

Spring Meetings 2024 Preamble: Bretton Woods Institutions continue to sleepwalk through crises as 80th anniversary of Bretton Woods Conference approaches

At a time when transformative changes on governance and development financing are required, the World Bank and IMF have instead opted for a slimmed down Spring Meetings schedule.

11 April 2024

IFI governance

Background

An Evolution Roadmap responsive to development crises? Towards an external evaluation of the World Bank’s cascade

Notes from the Civil Society Policy Forum on 11 October 2023 titled, "An Evolution Roadmap responsive to development crises? Towards an external evaluation of the World Bank’s cascade."

11 November 2023 | Minutes

IFI governance

Analysis

Marrakech Annual Meetings Wrap-up 2023: Bretton Woods Institutions wilt in the desert, as ‘pragmatism’ fails to resolve urgent crises

Incremental changes paper over deficiencies of status quo, as civil society calls for the radical change required to meet the moment.

18 October 2023

IFI governance

Analysis

V20 communiqué analysis Annual Meetings 2023: Climate vulnerable countries demand more voice at Bretton Woods Institutions

V20 seeks confirmation of official observer status at the Bretton Woods Institutions by COP28, as IMF quota review fails to give greater voting power to climate vulnerable countries.

18 October 2023

IFI governance

Analysis

G24 communiqué analysis Annual Meetings 2023: Scramble for 'last resort' support to struggling countries

The Annuals 2023 G24 communiqué for reiterates an urgent need for financial support from both the IMF and World Bank for indebted countries, whilst also supporting reform through quotas, a new SDR allocation & surcharge abolishment and review.

18 October 2023

IFI governance

Analysis

G20 communiqué analysis Annual Meetings 2023: Nothing new under the sun

The Group of 20 (G20) communiqué was published on 13 October. It focused on the consequences of the evolving debt situation, reaffirmed support for the much-criticised Common Framework and was silent on debt relief. The section on MDB reform meanwhile stressed ‘bigger’ rather than ‘better’ banks.

18 October 2023

IFI governance

Analysis

Development Committee chair’s statement analysis Annual Meetings 2023: Geopolitical fragmentation limits the ambition for reform

The Development Committee met on 12 October, with the chair issuing a statement, instead of a communiqué, reflecting the views of the majority of shareholders on the measures needed to tackle the development challenges that “have upended decades of hard-won development progress, and the development.”

18 October 2023

IFI governance

Analysis

IMFC chair’s statement analysis Annual Meetings 2023: Fine words but little of substance as critical decisions kicked down the road

Divisions once again prevented the IMFC from issuing a communiqué. The chair issued a statement that promised much but delivered little, supporting a third Sub-Saharan African chair on the IMF’s executive board, but kicking key reforms like quota realignment and a discussion on surcharges down the road.

18 October 2023
Flyer of CSPF on 12 October 2023, titled: The B-Ready Project: A Significant Departure from the Doing Business Report?

IFI governance

Background

The B-Ready Project: A significant departure from the Doing Business Report?

Notes from the Civil Society Policy Forum on 12 October 2023 titled, "The B-Ready Project: A significant departure from the Doing Business Report?"

12 October 2023 | Minutes

IFI governance

Background

African perspectives on the reforms of the international financial architecture

Notes from the Civil Society Policy Forum Session 'African perspectives on the reforms of the international financial architecture' on 11 October 2023.

11 October 2023 | Minutes