Relations between the Bank and the government of Papua New Guinea were strained in July by the government’s decision to issue bonds to raise money from the private sector.
The Bank’s paper on best practices for implementing the social principles will be discussed by the Board on 10 September.
The Asian Development Bank Institute (ADBI), led by its new head Masaru Yoshitomi, has mounted an attack on the IMF’s use of conventional policies for dealing with the crisis in Asia and plans to hold meetings and seminars to challenge the IMF’s approach at the Bank/Fund annual meetings.
In late August Colombian labour unions began an indefinite national strike in protest at the government’s political, social, and economic agenda and calling on the government to declare a moratorium on the payment of its internal and external debt.
Last year the World Bank lent billions of dollars to Brazil, claiming that they would support social safety-nets during the financial crisis.
On 1 July the Bank held an informal Board seminar to discuss “governance indicators”.
Are the World Bank and IMF now taking environmental and social issues seriously?
IMF policies have exacerbated corruption according to a Christian Aid briefing on new approaches to debt relief.
A new paper from the World Resources Institute examines the World Bank’s use of adjustment lending to promote policy reform for favourable environmental outcomes.
The G7 have agreed changes to the Heavily Indebted Poor Country Debt Initiative which will impose more conditionality in return for earlier relief from interest payments.