World Bank trust fund ESMAP will provide support for domestic market, while IFC will support private sector investment in CCUS.
Analysis
Finance
Analysis
Our World in 2021
While the Bank stressed the need for a recovery based on Green, Resilient and Inclusive Development and the IMF highlighted its concerns about the divergent paths of the global recovery in 2021, both continued to support largely unreformed policies.
Knowledge
Analysis
Death of Doing Business Report greatly exaggerated as World Bank announces rebranding plans
World Bank announces relaunch of Doing Business Report in approximately two years.
Finance
Analysis
Debt crisis prevention: We need to talk about capital controls
IMF's position on capital controls must be revised to recognise that they are an essential and permanent macroeconomic tool necessary to increase countries' policy autonomy and enable them to act counter-cyclically and to prevent future debt crises.
Environment
Analysis
Lack of public finance and debt relief at COP26 undermines countries' climate goals
Climate-for-debt swaps mechanism proposed by IMF fails to materialise, while rich countries' climate finance commitments remain unmet.
Conditionality
Analysis
New IMF-Pakistan agreement likely to have adverse impact on women
IMF and Pakistan have reached agreement for a further loan disbursement, with Pakistan agreeing to significant cuts.
Environment
Analysis
IMF surveillance and climate change transition risks
New briefing by ActionAid USA and the Bretton Woods Project highlights research showing that IMF policy advice has undermined a just energy transition since the Paris Agreement was signed.
IFI governance
Analysis
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
Analysis
Annual Meetings Wrap-up: despite urgent climate and development needs, geopolitics and deference to private finance rule the day
Doing Business scandal once again highlights that geopolitical wrangling is key driving force behind Bretton Woods Institutions’ governance structure and policy prescriptions.
IFI governance
Analysis
G20 communiqué analysis – Annual Meetings 2021
G20 offers sanguine tone on the global health and debt crises, failing to address issues related to vaccines and private creditors.
IFI governance
Analysis
G24 communiqué analysis - Annual Meetings 2021
G24 finance ministers called for urgent measures to arrest the unequal recovery from the Covid-19 pandemic.
IFI governance
Analysis
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.
Featured briefings
6 October 2022
World Bank and IMF Annual Meetings 2022
4 October 2022
The Bretton Woods Observer: Autumn 2022
4 October 2022
Monetary power and sovereign debt crises: The renewed case for a sovereign debt restructuring mechanism
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.