Articles & resources
Critical voices on the World Bank and the IMF
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Special Drawing Rights
The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. It serves as the unit of account of the IMF and some other international organisations, including the World Bank, and based on five currencies—the US dollar, the euro, the Japanese yen, the British pound sterling…
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Extractive Industries Transparency Initiative
EITI aims to ensure that revenues from extractive industries contribute to sustainable development and poverty reduction. It was launched in September 2002 by British PM Tony Blair at the World Summit on Sustainable Development in Johannesburg and is carried out by U.K. Department for International Development.
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Environmentally and Financially Sustainable Development Network
ESSD is a World Bank network on issues related to agriculture and rural development, environment, and social development.
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Ecological Debt
Owed by the World Bank and richer countries to citizens of borrowing, poorer countries, ecological debt includes atmospheric pollution and other costs to the global environment of unsustainable living. See Andrew Simmons, “Ecological Debt: the health of the planet and the wealth of nations”, 2005: Pluto Press.
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Development Gateway
DG is an internet portal on development issues which seeks to promote sustainable development and poverty reduction through knowledge and resource sharing. Having been conceived and designed by the World Bank, it commenced operations as an independent not-for-profit organisation in July 2001.
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Development Committee
A joint Bank-IMF forum, the DC meets twice a year to set broad Bank policy and advise the Board of Governors on development issues. DC’S 24 members are appointed by the executive Board of Directors. They are representative of all the member countries and usually ministers of Finance or Development.
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Department of Institutional Integrity
INT investigates allegations of fraud and corruption in Bank operations and allegations of staff misconduct. It also assists in preventive efforts to protect Bank funds such as staff training.
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Country Policy and Institutional Assessment
Initiated by the Bank in the late 1970s, CPIAs consist of a set of criteria representing the different policy and institutional dimensions of an effective poverty reduction and growth strategy (e.g quality of budgetary and financial management, debt policy, gender equality…), and are intended to guide the allocation of IDA lending resources. For each criterion,…
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Compliance Advisor Ombudsman
CAO is a mechanism to allow individuals and communities impacted by IFC and MIGA projects to raise their concerns directly and to enhance the social and environmental outcomes of such projects. Its 3 roles are overseeing IFC/MIGA projects’ overall environmental and social performance (Compliance); providing independent advice to the President and management on specific projects…
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Committee on Governance and Executive Directors’ Administrative Matters
An 8-member standing committee of the Board of Executive Directors, COGAM advises the Board on issues of governance and administrative policy such as codes of conduct on corruption. It is the key committee in following up on the agenda to increase the ‘voice’ and participation of developing countries at the Bank. Previously CODAM.