Just two weeks after it published its “World Economic Outlook” in September the Fund admitted some of its figures were out of date and would have to be revised downward.
International Monetary Fund (IMF)
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.
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.
IFI governance
News
Distilling lessons from the ESAF Reviews
Many NGOs have fed in comments to the IMF about its staff report Distilling the Lessons of the ESAF Reviews.
Finance
News
Russian lessons for the IMF
The Russian economic crisis, hot on the heels of the Asian meltdown, has provoked the Financial Times to comment that “the role of the International Monetary Fund in preventing crises has been comprehensively undermined.”
IFI governance
News
Blair proposes IFI reforms
UK Prime Minister Tony Blair made a speech at the New York Stock Exchange arguing that the World Bank and IMF have fundamental weaknesses and need to be reformed.
IFI governance
News
Oxfam Guide examines participation
An Oxfam publication by Tricia Feeney provides a very useful analysis of approaches to participation in development projects.
