As the inability of Bank and Fund to adapt their policies in response to the Covid-19 pandemic becomes more evident, hope turns to the UN system and a radical restructure of the global international financial architecture.
International Monetary Fund (IMF)
It is time for the IMF and World Bank to understand their own responsibility and decolonise their approach.
The IMF provides various types of loans to member governments. This background article explains how IMF lending works and sets out the differences between the main types of IMF lending.
Private creditors provided with IMF backing in Argentina negotiations as country enters into default.
Amidst multiple financial and economic crises, a classic IMF intervention in Lebanon could exacerbate inequalities and social tensions.
As G20 gears up to take critical decisions on international financial response to Covid-19, the consequences of overly rosy IMF forecasts are potentially more costly than ever.
Egypt, Ukraine, South Africa and Ecuador have recently signed IMF loan programmes that involve severe austerity measures.
Despite growing focus on climate issues, both institutions have backed controversial Mozambique LNG project.
Notes from the Civil Society Policy Forum Session on 2 October.
The international financial system’s reliance upon credit ratings – usually based on dubious premises – needs urgent rethinking.
Early evidence suggests IMF programmes are maintaining long-term fiscal consolidation targets, while World Bank further continues Maximizing Finance for Development narrative amidst Covid-19 crisis.
IMF-backed austerity measures starved health sector prior to pandemic, yet Fund continues to prescribe devastating long-term fiscal consolidation.