When the social principles were proposed by Gordon Brown at the 1998 AGM of the Bank and IMF it was envisaged that they would apply to all countries and would be monitored as the other codes on Fiscal Transparency, Monetary Policy and Corporate Governance will be. The Development Committee charged the World Bank with the task of drawing up the principles (1999).
Although it has sought to adapt, the Fund still has particular difficulties in dealing effectively with low income countries. The introduction of ESAF was an important attempt at adaptation but its programmes are still too short term, the scale of support is often too small, and the policy conditions laid down are too blinkered.
This paper considers how the relationships and roles of intenational and national non-governmental organisations, donors and the multilateral institutions are likely to change as a result of new initiatives to put poverty reduction and country ownership at the centre of the development process (2000).
Briefing outlining the case for an independent evaluation unit for the IMF and setting out the outlines the principles on which it should function (1998).
This briefing is a response to the “Meltzer Report” produced by the US congressional Committee led by Allan Meltzer on the roles of the IMF and World Bank. It examines the Committee’s recommendations and outlines why they are inappropriate and how they would actually increase the power of the IMF, whilst turning it into an institution that would serve the needs of private sector investors rather than assisting governments (2000).
The World Bank has produced a discussion paper, Partnership for Development: Proposed Actions for the World Bank, which presents a strategy for building ownership into the development process, developing partnerships between donors to fund government designed programmes and to make more effective use of aid resources (1998).
Short note outlining concerns about the International Finance Corporation’s attempt to redefine its strategy. The new strategy ducks the key issue of how the IFC can use its leverage to improve companies’ social and environmental peformance. (February 1998)
Explains and examines the World Bank Group’s approach to supporting private investment in developing countries through privatisation, guarantees and lending. Outlines critical perspectives on whether the Bank’s strategy will lead to poverty reduction and sustainable development (March 1997).
An introduction to the new Bank and Fund Poverty Reduction Strategy Papers.
Bretton Woods Project-commissioned riposte to the World Bank’s World Development Report, The State in a Changing World. (March 1998).
In the light of the financial crisis in South East Asia and the traumur this brought to many people’s lives in the region it was anticipated that the executive directors of the international monetary fund would discuss a proposal to extend the IMF’s articles of agreement so that it can pursue capital account liberalisation in member countries.
For the enormous power and global reach the World Bank has today, relatively little formal debate exists on one critical aspect of its practices - the production of knowledge.