With much awaited climate talks in Copenhagen in December, the World Bank and its supporters are positioning the institution to play a significant, if not dominant, role in future climate finance.
Analysis
Conditionality
Analysis
IMF lending programmes: old wolf in sheep's clothing?
The debate over IMF conditionality heats up as data comes in about IMF programmes; economic turmoil continues in countries such as Latvia and Ukraine, which face stern IMF demands.
Finance
Analysis
Dollars, devaluations and depressions
The international monetary framework which emerged after the collapse of the Bretton Woods system in the 1970s has proved volatile, damaging and prone to crises. It is time for a fundamental redesign and the introduction of a global reserve currency, to help stabilise international exchange rates, smooth commodity prices, promote international economic cooperation, and prevent future financial crises.
Land
Analysis
Helping farmers weather risks?
The World Bank has published several papers on its pilot programmes for index-related insurance in developing countries to hedge against weather-related risks. They vary from support for local insurance companies to weather derivatives sold in international financial markets. According the Bank, private insurance should be seen as supplemental to public intervention and other forms of support such as cooperatives. A September briefing from the Bretton Woods Project, however, faults the Bank for
Finance
Analysis
IMF conditions stoke controversy, prompt strikes
The IMF's loans across Europe, from Iceland to Romania are stoking deep controversy and protest. Resistance is building from civil society aganist the austerity benig imposed.
Accountability
Analysis
The IFIs in 2008: year in review
2008 was the year of crisis: developing countries, already reeling from the impacts of food and commodity price crises, faced the spectre of a global financial and economic crisis, caused by policy choices made by rich countries. The World Bank and International Monetary Fund (IMF), two of the key institutions who have promoted the 'Washington Consensus' model of economic deregulation and liberalisation that many blame for causing the crisis, tried to wriggle out of responsibility and present t
IFI governance
Analysis
IMF financial package for low-income countries: Much ado about nothing?
This briefing analyzes announcements made at the end of July by the IMF regarding the level of their financial commitments to low-income countries (LICs) and finds them wanting in relation to the size of new resources, the flexibility of conditionality, and the imrpovements needed to SDR allocations.
Conditionality
Analysis
The potential development implications of enhancing the IMF's resources
In April 2009, the G20 group of leaders committed $1.1 trillion to combat the financial crisis, with the bulk of this being channelled through the International Monetary Fund (IMF). However, this substantial amount of resources may never be provided, and if it is, may not have the intended positive effect on developing countries. Experience so far demonstrates that the IMF is still imposing damaging pro-cyclical conditions on some borrowers, and that the finance provided to low-income count
Environment
Analysis
Are climate pilots building towards the right climate architecture?
Current climate pilot projects, many of which are housed under the World Bank, are not leading us towards an equitable and effective post 2012 climate architecture envisioned by NGOs in the UK and beyond.
Accountability
Analysis
Bretton Woods Project submission on the DFID White Paper
In a submission the the DFID white paper consultation, we set out the significant change needed at the World Bank and IMF to bring them into line both with international norms and with UK policy, in order to improve their contribution to sustainable development. In this submission we outline changes needed in: IFI governance; IFI conditionality policies; IFI policies related to aid effectiveness; IFI policy on climate change; private-sector finance; and the financial sector's impact on devel
Environment
Analysis
Are we nearly there?
A number of 'pilot' funds are underway to develop climate related interventions in key sectors. Significant UK financing has been dedicated to these funds, primarily through the World Bank. These pilot programmes must be seen as building blocks towards an appropriate post 2012 financial architecture. Based on an emerging UK civil society consensus this paper highlights the form that this architecture should take, what development models it should build upon and what technological approaches it s
IFI governance
Analysis
Beyond the London Summit
In this paper we assess the outcomes of the London Summit and the UK government's progress towards the 12 recommendations set out by the Put People First platform in March 2009. The G20 London Summit on 2 April 2009 issued "a global plan for recovery and reform". G20 leaders have not yet gone far enough on the fundamental changes the world needs. The communique appears to have made progress on some critical issues but there were also missed opportunities, especially on building a green economy,
