Energy policy at the World Bank remains controversial, with escalating lending to coal projects and a delay to the energy strategy review. Past Bank-financed energy projects in Ghana and Albania are also proving problematic.
The IMF has faced increased political pressure to refuse a $118 million loan to Antigua and Barbuda following the government’s seizure of assets belonging to Allen Stanford, former head of the now fallen Stanford Investment Bank (SIB).
A spate of human rights violations and environmental abuses by mining ventures backed by the International Finance Corporation (IFC), the private sector arm of the World Bank, is raising alarm over the inadequacy of its social and environmental standards.
The IMF board announced in mid February that the voting rights of Zimbabwe would be restored after seven years of suspension for unpaid debt, meaning that Zimbabwe can now participate in Fund decision making.
The World Bank launched a review of its education strategy in January with a concept note setting out key challenges and principles for a sector where its activities have come under sustained criticism.
The IEG published in April a Review of IDA Internal Controls, finding deficiencies in the fiduciary processes and controls the Bank has set up to manage the risk of corruption in IDA operations.
A review of the treatment of black employees at the World Bank in recruitment, retention and justice decisions has been released by the Government Accountability Project (GAP).
We would like to appologise for any confusion due to an article in Update 62 on water privatisation. In discussing a Bank project in Yerevan, Armenia, it may not have been clear that all statements about tendering the parliamentary commission, water services, and project material were allegations from the Government Accountability Project (GAP) report.
In December 2008 the World Bank declared that it had debarred Satyam Computer Services for providing "improper benefits to bank staff".
Norway, Germany, IMF, WOrld Bank and experts discuss tackling tax evasion and capital flight.