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Critical voices on the World Bank and the IMF
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UN80: A missed opportunity for transformation?
Member states must deliver on strategic transformation that enables UN to respond to growing crises.
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Mass protests erupt in Angola following IMF-backed fuel subsidy removals
Civil society warns that without wider debt relief removing consumer subsidies simply shifts the burden onto the poor.
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IDA21 policy package disappoints as prospects for IDA countries continue to darken
After difficult negotiations due to American pressure on climate and gender, World Bank governors approve IDA21 document, embedding the Bank’s problematic private sector-led development approach and failing to integrate economic transformation or binding human rights obligations.
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ActionAid International’s new report highlights human costs of austerity on health and education
Report calls on the IMF, among other actors, to take immediate actions to address the dire situation of public services under austerity.
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World Bank’s $1 billion loan to South Africa risks undermining just transition by doubling down on ‘de-risking’ private capital
Despite the Just Energy Transition Partnership’s failure to attract private investments in South Africa, the World Bank is doubling down on a private sector led approach to the green transition through $1 billion loan contingent on the separation of Eskom’s activities.
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World Bank embarks on pilot phase of Business Ready Project, disregarding civil society concerns
B-READY pilot 1 covering 51 countries is released, ignoring CSO concerns about the project’s flawed “private-sector first” agenda.
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Resilience and Sustainability Trust’s first loans promote climate PPPs, raising concerns they may create fiscal risks
Initial financing for Costa Rica, Barbados, Rwanda, Bangladesh and Jamaica tied to efforts to ‘green’ PPP frameworks.
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Civil society calls to move away from PPPs grow, while World Bank doubles down on private finance-led approach
Civil society ramps up calls to move away from public-private partnerships (PPPs) with Santiago Declaration for Public Services.
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World Bank issues new guidance on PPPs legal frameworks, ignoring long-standing concerns with the model
New World Bank guidance on PPP legal frameworks evidence of institution’s continued reliance on PPPs as key to addressing SDG financing gap despite well-documented failures. Previous World Bank PPP contracts template criticised for incompatibility with human rights norms.
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Global Day of Action against the IMF and World Bank rejects corporate recovery agenda
Civil society day of action rejects corporate agenda and greenwashing in World Bank and IMF Covid-19 recovery.
