As the eurozone debt crisis escalates and protests multiply, the IMF increasingly appears side-lined. Italy's calling in of the Fund for "verification" of implementation of its EU-agreed austerity package symbolises the limits of its influence and resources.
Conditionality impacts
Accountability
Background
UK civil society meeting with HM Treasury and UK IMF Executive Director
Notes meeting Alex Gibbs September 2011
Conditionality
News
Ecuador shuns the IMF, borrows from China
Ecuador is shunning IMF credit facilities in favour of a long-term loan arrangement with China in exchange for oil.
IFI governance
News
World Bank lending falls by 20 per cent
The Bank announced in June that its commitments for the fiscal year ending 30 June, had fallen to $57.4 billion, from an all time peak of $72 billion last year.
Accountability
News
Programmed for Results?
In August, the Bank released a policy paper and draft operational policy for its controversial new Program For Results (P4R) lending instrument, aiming to rush through its approval by the end of the year, despite significant concerns.
Conditionality
News
Evaluations suggest IMF, World Bank research ideologically driven
A report by the IMF’s arms-length evaluation body, the Independent Evaluation Office (IEO), suggests that Fund research does not allow room for alternative perspectives, while academics attack the World Bank for pursuing ideologically driven research agendas.
Rights
News
Ukraine protests against IMF policies
In early July, thousands of protesters took to the streets in the Ukrainian capital Kiev to try to block pension reforms promised as part of the country's IMF loan.
Social services
News
Bondholders vs the public: Outcry over IMF-EU eurozone loans
The sovereign debt crisis in the eurozone, where Greece now needs a second round of loans, threatens major economies like Spain and Italy, but IMF-backed lending packages that demand deep austerity with insufficient attention to lenders' responsibilities anger the public.
Conditionality
News
IMF advice accused of risking new recession
Since the financial crisis, the IMF's rhetoric has tried to be nuanced about austerity policies and the need to stimulate growth, but critics says its actions risk pushing the world back into recession and hurting workers.
Environment
Commentary
World Bank's Africa strategy remains rutted in comfort zone
A critical analysis of the World Bank's new strategy for Africa
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