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.
Debt
Accountability
Background
UK civil society meeting with HM Treasury and UK IMF Executive Director
Notes meeting Alex Gibbs September 2011
Finance
News
Bank misdefining domestic debt?
At its debt sustainability conference in June, the Bank emphasised the importance of governmental use of domestic borrowing rather than international borrowing.
Finance
News
Arab civil society rejects IFI involvement
In late June the Egyptian Ministry of Finance turned down a $3 billion loan package from the IMF, citing the rejection as a response to "public debate".
Accountability
News
South African loan to Swaziland hinges on IMF conditions
The crisis-hit government of Swaziland agreed a 2.4 billion rand ($324 million) loan from South Africa in August, which will be conditioned on the adoption of IMF-recommended fiscal reforms.
Finance
News
South Sudan born free from IFI debt
While South Sudan achieved formal independence in early July, it was not until late July that full agreement was reached that left South Sudan with no debt, apportioning all existing debts, including significant arrears to the IMF and World Bank, to Sudan alone.
Finance
News
Bank upgrade of Zambia fails to impress
The World Bank's reclassification of Zambia from low-income country to lower middle-income country has been hailed as an economic achievement by Zambia's president Rupiah Banda, but is less celebrated in other quarters.
Social services
Commentary
IFC helping Western multinationals exploit Ghana's water crisis
The water supply crisis in Ghana is being exploited by all manner of pro-market corporate bodies ranging from the World Bank to Coca-Cola. While the World Bank is licking its wounds from failed private water management initiatives, such as the Aqua Vitens Rand Limited management contract in Ghana, the International Finance Corporation (IFC), its private sector arm, is investing in small-scale private water ventures via WaterHeath International (WHI).
Environment
News
Donor governments join critical chorus on the CIFs
The Bank-housed Climate Investments Funds (CIFs) are facing increasing criticism from donor governments and civil society groups, while concerns that the Bank's role in the new Green Climate Fund (GCF) constitutes a conflict of interest continue.
Environment
Analysis
A faulty model?
This paper critically assesses the appropriateness of the Bank-housed Climate Investment Funds (CIFs) as a model for the Green Climate Fund (GCF). It takes proposals and recommendations by civil society groups and uses them as benchmarks to analyse the CIFs. It finds that in terms of institutional arrangements the CIFs have achieved some notable progress, however, in operations and performance there are serious concerns.
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8 November 2021
IMF surveillance and climate change transition risks
New briefing by ActionAid USA and the Bretton Woods Project highlights research showing that IMF policy advice has undermined a just energy transition since the Paris Agreement was signed.