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.
Briefings
Conditionality
Analysis
What Role for the Multilateral Institutions, Donors, and NGOs in the New Framework for Poverty Eradi
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).
WB/IMF roles
Analysis
Beyond Meltzer
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).
Private Sector
Analysis
The IFC’s Beyond 2000 Strategy Paper: Missing the Point
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)
Conditionality
Analysis
The ABC of the PRSP
An introduction to the new Bank and Fund Poverty Reduction Strategy Papers.
WB/IMF roles
Analysis
Blind Leading The Blind: Capital Account Liberalisation And The Role Of The IMF
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.
Finance
Analysis
Preface: “Drowning By Numbers”
This paper considers whether private sector flows is an effective alternative to development assistance. It examines the implications of increased private sector inflows in terms of the potential to create unsustainable debt burdens and to tie the hands of policy makers to a limited set of policies critical for foreign investors but potentially detrimental to the domestic economy.
WB/IMF roles
Analysis
Policing the Policemen - the case for an independent evaluation mechanism for the IMF
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).
Finance
Analysis
Drowning By Numbers - Executive Summary
This paper considers whether private sector flows is an effective alternative to development assistance. It examines the implications of increased private sector inflows in terms of the potential to create unsustainable debt burdens and to tie the hands of policy makers to a limited set of policies critical for foreign investors but potentially detrimental to the domestic economy.
WB/IMF roles
Analysis
Partnerships For Development: A New World Bank Approach
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).
IFI governance
Analysis
The State in a Changing World
Critical analysis of the Bank’s 1997 World Development Report, The Role of the State. Written by Nicholas Hildyard, commissioned by the Bretton Woods Project
Private Sector
Analysis
The World Bank and the Private Sector
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).
Featured briefings
15 July 2025
The Bretton Woods Observer: Summer 2025
15 July 2025
Will the World Bank be a partner for a just energy transition in developing countries?
As renewable energy finance shifts from China to the World Bank, whether the Bank can be a partner for a just energy transition depends on three areas: strong environmental and social oversight, avoiding a new resource curse in minerals and debt relief during crises.
9 June 2025
New data reveal World Bank DPF ‘climate finance’ carries strong private sector bias, undermining a just transition
New BWP briefing finds the World Bank counted 70 per cent of energy-sector reforms in Development Policy Financing as having 'climate co-benefits' between 2018-2023 - but most of these promoted a private-led energy transition.