The IMF’s Contingency Credit Line (CCL), agreed during the Spring meetings, will not help developing countries facing financial crisis because the qualification conditions are too demanding.
International Monetary Fund (IMF)
Social services
News
Lack of commitment for Social Principles
The Social Principles, proposed last autumn by UK Chancellor Gordon Brown as the “fourth pillar” of the international architecture, are likely to prove ineffective.
IFI governance
News
IMF voting reform examined
A small committee has been set up to investigate whether to reform the IMF’s formula for allocating votes between countries on its Board.
Rights
News
IMF transparency improved
The IMF has outlined a new information policy.
Social services
News
Little new in IMF/WB pilots
Several of the pilot ESAF collaboration studies between the IMF and world Bank are in trouble, and new countries may need to be selected.
News
Update error on IMF staff
The Bretton Woods Update (March 1999) reported that the 2 social advisors recently appointed to the IMF were being funded by the Department for International Development (DFID).
Social services
News
IMF/WHO collaboration
IMF staff have met Dr Bruntland, head of the World Health Organisation, to identify mechanisms for IMF-WHO collaboration.
Conditionality
News
Initiative changes
The G7 have agreed changes to the Heavily Indebted Poor Country Debt Initiative which will impose more conditionality in return for earlier relief from interest payments.
Conditionality
News
Brazilians protest spending cuts
Brazilian NGOs, trade unions, students and opposition parties protested outside the World Bank’s office in Brasilia against the government’s agreement with the International Monetary Fund (IMF) and the Bank’s decision to suspend loans to two state governments.
News
Surveys show tough views on Bank and Fund
Respondents to two recent surveys revealed widespread continuing mistrust of Bank and Fund approaches.
News
IMF “serious” about improving NGOs relations
Useful Contacts
IFI governance
News
Bank seeks balanced development strategies
Bank President James Wolfensohn has announced a new initiative which aims to balance economic with non-economic analysis and enable real participation and transparency in drawing up country strategies.
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The lost call for international financial architecture reform in the G20
At the 80th anniversary of the World Bank and IMF, global civil society must maintain pressure on the Brazilian and South African G20 presidencies to ensure the forth Financing for Development Conference in 2025 results in urgently required international financial architecture reform.