Notes of the seminar of annual meetings 2010
Debt
Knowledge
Background
Meeting between the UK IMF Executive Director Alex Gibbs , HM Treasury and UK civil society organisa
Notes of the seminar of annual meetings 2010
Environment
News
IFI-induced debt catastrophes?
Natural disasters in Haiti and Pakistan have heightened calls for larger debt cancellation, rather than new IMF loans, and for a rethink of the sovereign debt system.
Land
News
UK reviews World Bank, multilateral aid
In June the new UK coalition government announced a hasty review of its funding to multilaterals, including the World Bank Group.
Accountability
News
IMF grants Antigua loan amid controversy
The IMF has faced increased political pressure to refuse a $118 million loan to Antigua and Barbuda following the government’s seizure of assets belonging to Allen Stanford, former head of the now fallen Stanford Investment Bank (SIB).
Conditionality
News
Debt crisis in Europe: Beware IMF bearing gifts
The descent of Greece into a sovereign debt crisis marks the first time a country that uses the euro has gone to the IMF. The fear of adverse market reaction has now moved Europe towards greater coordination and the G20 to argue against continued fiscal stimulus.
Finance
News
Zimbabwe turns to the IMF
In March the Zimbabwean cabinet agreed to a new debt relief strategy that includes recourse to the IMF and World Bank's Highly Indebted Poor Countries (HIPC) initiative.
Conditionality
Background
The IMF's framework for low-income countries
In the midst of the global financial and economic crisis the IMF amended its lending framework for low-income countries (LICs). It now has three main instruments for LICs – the Extended Credit Facility, the Standby Credit Facility and the Rapid Credit Facility. The three different programmes are subsidised by the newly created Poverty Reduction and Growth Trust (PRGT). The IMF also engages with LICs through non-financial facilities, especially the Policy Support Instrument (PSI) and the St
Conditionality
News
IMF approves Iceland's loan review
In mid April, after long delays, the IMF board approved the disbursement of Iceland's third loan instalment, amounting to $159 million, in mid April. The delays were caused by a dispute between Iceland and the UK and the Netherlands over compensation to British and Dutch account depositors in the collapsed of the Icelandic bank Icesave.
Conditionality
News
Haiti to receive Bank finance and debt relief
In late March the World Bank announced a three-year programme of financial support for Haiti totalling $479 million, which includes total cancellation of its $39 million debt to the Bank.
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