The International Finance Corporation, a private sector arm of the World Bank, plans to include corporate governance clauses in loan agreements.
Conditionality impacts
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Bank Vice President enlisted in Turkey crisis
In a bizarre effort to shore up international investor confidence, the Turkish prime minister appointed Kemal Dervis, a World Bank Vice President, to become a state minister in charge of the economy in Turkey in late February.
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Ecuador adjustment protesters strike deal
In late January and early February Ecuadorean indigenous groups led further protests against government and IMF economic policies.
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Conditionality reduced but still “indispensable”
The numbers of conditions applied by the IMF may be reduced. But prior policy commitments and international codes and standards will be examined and in the area of governance, conditions may actually increase.
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Social sectors bear brunt of Argentine austerity programme
The crisis in Argentina deepened in March after three ministers, including the Education and Economy Ministers, resigned after the government agreed a new austerity programme with the IMF.
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G24 report on IFI governance agendas
The Group of 24 Southern countries published a research paper on “Governance-related conditionalities of the International Financial Institutions”.
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Lack of impact assessments constrains policy choices
Due to a lack of information on impacts associated with adjustment reforms, there is still no discussion of realistic policy choices and trade-offs in Poverty Reduction Strategies, according to an Oxfam International letter sent to the heads of the Bank and Fund in December.
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New research on African PRSPs
A study for the Strategic Partnership for Africa of eight countries provides a useful summary of experience to date with producing interim PRSPs.
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Adjustment lending is “bad news” for poor: Bank study
An internal Bank report has concluded that the poor are better off without structural adjustment.
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Bank governance strategy, G24 cautious
The World Bank has published a new strategy on governance.