IFI governance

News

The future of NGO World Bank strategy discussed

In October the Bank Information Center held a strategy meeting for 80 people from NGOs and foundations concerned about the World Bank.

Finance

News

IMF Articles change on hold

Action to change the IMF’s Articles of Agreement to extend the Fund’s purview to cover capital account liberalisation has been put on hold since the financial crisis.

IFI governance

News

IMF looks to hire PR firm

The IMF has decided to hire a new public relations firm to bolster its battered image.

News

IMF forecasts in doubt again

Just two weeks after it published its “World Economic Outlook” in September the Fund admitted some of its figures were out of date and would have to be revised downward.

Conditionality

News

ESAF reviews latest

NGOs’ comments on the findings and recommendations of the ESAF reviews will be published and discussed by the Board soon.

Conditionality

News

Brazil stabilisation means cuts for key donor projects

The IMF with multilateral banks and other donors has agreed a $41bn package to help Brazil fend off international currency speculators.

WB/IMF roles

News

Bank is “not the IMF”

Bank President James Wolfensohn spent much of the Bank Annual Meeting distancing his institution from its sibling, insisting that it is not a “second level IMF” and does not provide bail-out funds.

Conditionality

News

WB/IMF collaboration plans

In response to the external ESAF Review, the World Bank is to collaborate with the IMF in pilot projects in Nicaragua, Vietnam, Tajikistan, Ethiopia, Cameroon and Zimbabwe over the next 12-18 months.

IFI governance

News

Transparency

The G7 has agreed to the G22 Working Group on Transparency and Accountability’s recommendation to establish a formal mechanism to evaluate IMF policies and programmes, but it is not clear what form this will take.

Finance

News

Scaffolding for global architecture

In late October the G7 took limited steps to strengthen the international financial architecture, after the World Bank-IMF annual meetings ended with a plethora of proposals but no substantive agreement.

Finance

News

“New debt crisis”

Investors’ growing aversion to risk is leading to a general withdrawal of finance from many Southern countries.

IFI governance

News

Towards a partnership Bank?

A refreshing new World Bank discussion paper frankly recognises that aid agencies are not cooperating effectively, and that mechanisms such as Consultative Groups and the Bank’s internal culture need to change.