The IMF has agreed to lend US$7.32 bn to the Zimbabwean government despite continued concerns about corruption in the land reform process; the cost of supporting Zimbabwean troops in the Democratic Republic of Congo (DRC); a planned privatisation of the Hwange power plant; and the reintroduction of price controls.
On 1 July the Bank held an informal Board seminar to discuss “governance indicators”.
IMF policies have exacerbated corruption according to a Christian Aid briefing on new approaches to debt relief.
A recent article in the Legal Times alleges that there is significant corporate lobbying of the World Bank.
The World Bank Group has set up a telephone hotline to provide a central point for reporting allegations of fraud and corruption.
In August a Commission of the Brazilian Congress held a hearing to examine the multilateral financial institutions.