More than 300 organisations and individuals call upon the IMF to urgently address one of the most glaring and easily rectifiable contradictions between its stated support for a just transition and its actions by immediately ending its surcharge policy.
Climate change
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Infrastructure
News
New deal allows for ICSID claims on fossil fuel investments until 2033
Loophole in renegotiated Energy Charter Treaty could see companies sue countries for losses related to fossil fuel projects until 2033.
IFI governance
Background
Greening whole economies? Unpacking World Bank plans for Paris alignment by July 2023
Notes from a Civil Society Policy Forum event on 14 October titled "Greening whole economies? Unpacking World Bank plans for Paris alignment by July 2023."
Accountability
Analysis
Ending “absolute immunity” for the International Finance Corporation: The legacy of Jam v. IFC
EarthRights International examines how the Jam v. IFC case has helped to shift the landscape of accountability for international financial institutions by successfully challenging their claim to “absolute” immunity in US courts, potentially opening IFC up to further legal challenges in future.
Finance
Analysis
A new Bretton Woods for whom? Civil society calls for democratisation of global governance
As geopolitical tensions rise amidst worsening global economic conditions, civil society demands the democratisation of a world economic order away from the established Global North and elite capitalist hegemony.
IFI governance
Analysis
V20 calls for more equitable international financial system to tackle risks posed to climate vulnerable developing countries
The communiqué for the V20 highlighted multitude of crises facing climate-vulnerable developing countries, with continuing challenges posed by the Covid-19 pandemic and unequally felt climate change impacts now being exacerbated by the spillover effects from the Ukraine war.
Land
News
IFC approves loan to industrial agriculture producer in Brazil despite pleas for protection of sensitive grassland biome
World Bank’s IFC $200 loan for large-scale agricultural production in Brazil disregards serious human rights and environmental concerns, despite calls by 200 civil society organisations globally
Environment
News
Mozambique IMF loan moves forward amid serious sustainability and transparency concerns
Fresh $456m IMF loan to Mozambique risks adding to insecurity and debt crisis as LNG projects have fuelled conflict and likely to become stranded assets.
Environment
Commentary
IMF programme in Pakistan undermines renewable energy roll-out
Loan programme in Pakistan undermines country’s plans for low-carbon transition, as tax breaks on renewables and EVs slashed from IMF-mandated mini-budget.
Environment
Analysis
Lack of public finance and debt relief at COP26 undermines countries' climate goals
Climate-for-debt swaps mechanism proposed by IMF fails to materialise, while rich countries' climate finance commitments remain unmet.
Featured briefings
6 October 2022
World Bank and IMF Annual Meetings 2022
4 October 2022
The Bretton Woods Observer: Autumn 2022
4 October 2022
Monetary power and sovereign debt crises: The renewed case for a sovereign debt restructuring mechanism
The sovereign debt crises threatening states in the Global South are less about fiscal mismanagement and more about monetary power in the global currency hierarchy.