Articles & resources
Critical voices on the World Bank and the IMF
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Fuelling authoritarianism: The role of the Fund and Bank in eroding the social contract
BWIs’ policies continue to contribute to the rise of populism, authoritarianism and backlash against multilateralism despite the institutions’ long-standing concerns and rhetorical support for reform.
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The Bretton Woods twins and the Trump tariffs: Implications for the Global South
The US’s decision to forsake core tenets of neoliberalism potentially deepens IMF’s crisis of legitimacy.
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Sustainable development requires sustainable finance: why local currency financing is part of the solution
Multilateral development banks can reduce their dependence on hard currency lending and make local currency financing a central element of their developmental mandate.
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G20 press conference analysis Spring Meetings 2024: Concrete actions fail to materialise despite strong Brazilian push
In the absence of a G20 Communiqué or Chair statement, Brazilian minister of finance, head of the central bank and other senior officials took questions at a short press conference, with discussion focused on the impact of continued restrictive US monetary policy on the global debt and development finance and the need for more responsive…
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Financial liberalisation, capital controls and development in Africa: The case of Uganda
Financial liberation has had a significant effect on Uganda’s economy opening the door for significant foreign ownership while facilitating the ongoing extraction of wealth.
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IMF capital control review: A missed opportunity to support a just recovery and stability
IMF review of institutional view on capital controls disappoints as it largely maintains the policy framework of its predecessor
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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.
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Evaluation finds IMF advice on capital controls lacking empirical support
IMF’s Independent Evaluation Office suggests that Fund guidelines are too restrictive and recommends a refresh in light of recent experience and research.
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World Bank’s rating obsession will negate debt justice
The international financial system’s reliance upon credit ratings – usually based on dubious premises – needs urgent rethinking.
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IMF reopening case for capital controls?
An IMF policy paper on the international monetary system considers its future policy on capital controls and proposes a review of the IMF’s institutional view on the liberalisation and management of capital flows.
